Apple Inc. (NASDAQ:AAPL) Set to Announce Earnings on Tuesday
Apple Inc. (NASDAQ:AAPL) is set to post its quarterly earnings results after the market closes on Tuesday, August 1st. Analysts expect Apple to post earnings of $1.57 per share for the quarter.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, May 2nd. The iPhone maker reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. Apple had a net margin of 20.74% and a return on equity of 35.09%. The company had revenue of $52.90 billion during the quarter, compared to the consensus estimate of $52.61 billion. On average, analysts expect Apple to post $8.88 EPS for the current fiscal year and $10.68 EPS for the next fiscal year.
Apple Inc. (NASDAQ:AAPL) opened at 152.09 on Tuesday. Apple Inc. has a 1-year low of $96.42 and a 1-year high of $156.65. The stock’s 50 day moving average is $147.28 and its 200-day moving average is $141.20. The firm has a market cap of $792.97 billion, a P/E ratio of 17.84 and a beta of 1.31.
Apple declared that its board has authorized a share buyback plan on Tuesday, May 2nd that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
AAPL has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their price target on Apple from $157.00 to $168.00 and gave the company an “outperform” rating in a research report on Monday, May 22nd. Rosenblatt Securities set a $120.00 price objective on Apple and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 price objective (up from $164.00) on shares of Apple in a research report on Friday, May 12th. Vetr upgraded Apple from a “hold” rating to a “buy” rating and set a $146.43 price objective for the company in a research report on Monday, March 27th. Finally, Cowen and Company restated an “outperform” rating and set a $160.00 price objective on shares of Apple in a research report on Thursday, May 25th. Eleven equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apple has an average rating of “Buy” and a consensus price target of $160.64.
In other news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $142.86, for a total value of $1,707,034.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela J. Ahrendts sold 75,000 shares of Apple stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $147.98, for a total value of $11,098,500.00. Following the completion of the transaction, the insider now directly owns 154,116 shares of the company’s stock, valued at $22,806,085.68. The disclosure for this sale can be found here. Insiders have sold a total of 373,000 shares of company stock worth $56,497,046 over the last ninety days. Company insiders own 0.08% of the company’s stock.
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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