Zacks: Brokerages Anticipate Apple Inc. (AAPL) to Announce $1.57 EPS
Wall Street analysts expect Apple Inc. (NASDAQ:AAPL) to announce earnings of $1.57 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Apple’s earnings, with the highest EPS estimate coming in at $1.68 and the lowest estimate coming in at $1.50. Apple reported earnings per share of $1.42 during the same quarter last year, which suggests a positive year over year growth rate of 10.6%. The company is scheduled to report its next earnings report on Tuesday, July 25th.
On average, analysts expect that Apple will report full year earnings of $8.94 per share for the current financial year, with EPS estimates ranging from $8.64 to $9.33. For the next fiscal year, analysts anticipate that the firm will report earnings of $10.57 per share, with EPS estimates ranging from $9.49 to $12.05. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Apple.
Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. Apple had a return on equity of 35.09% and a net margin of 20.74%. The firm had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion.
A number of equities research analysts have commented on the stock. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $159.00 target price (up previously from $152.00) on shares of Apple in a research report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $150.00 target price on shares of Apple in a research report on Wednesday, April 12th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $120.00 target price on shares of Apple in a research report on Monday, April 17th. FBN Securities lifted their target price on shares of Apple from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Apple in a research report on Tuesday, June 6th. Ten research analysts have rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $160.83.
In other Apple news, insider Philip W. Schiller sold 47,796 shares of the firm’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $143.32, for a total value of $6,850,122.72. Following the sale, the insider now directly owns 94,010 shares in the company, valued at $13,473,513.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur D. Levinson sold 35,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $153.88, for a total value of $5,385,800.00. Following the completion of the sale, the director now owns 1,168,283 shares in the company, valued at $179,775,388.04. The disclosure for this sale can be found here. Insiders have sold 447,411 shares of company stock worth $67,200,745 over the last 90 days. 0.08% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. American Beacon Advisors Inc. bought a new stake in Apple during the first quarter worth about $117,000. Glacier Peak Capital LLC bought a new stake in Apple during the fourth quarter worth about $127,000. TrimTabs Asset Management LLC boosted its stake in Apple by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 921 shares of the iPhone maker’s stock worth $132,000 after buying an additional 432 shares during the last quarter. Welch Investments LLC bought a new stake in Apple during the fourth quarter worth about $146,000. Finally, Odey Holdings AG boosted its stake in Apple by 27.3% in the fourth quarter. Odey Holdings AG now owns 1,273 shares of the iPhone maker’s stock worth $147,000 after buying an additional 273 shares during the last quarter. Institutional investors own 61.26% of the company’s stock.
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Shares of Apple (NASDAQ AAPL) traded up 3.03% during trading on Monday, hitting $146.58. The stock had a trading volume of 8,192,447 shares. The firm has a market cap of $764.24 billion, a PE ratio of 17.20 and a beta of 1.28. The stock has a 50 day moving average of $151.22 and a 200 day moving average of $135.17. Apple has a 52-week low of $91.50 and a 52-week high of $156.65.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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