Apple Inc. (AAPL) Expected to Announce Earnings of $1.87 Per Share
Wall Street analysts forecast that Apple Inc. (NASDAQ:AAPL) will report $1.87 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for Apple’s earnings. The lowest EPS estimate is $1.80 and the highest is $1.92. Apple posted earnings of $1.67 per share in the same quarter last year, which would suggest a positive year over year growth rate of 12%. The business is scheduled to announce its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Apple will report full-year earnings of $9.02 per share for the current financial year, with EPS estimates ranging from $8.95 to $9.09. For the next fiscal year, analysts anticipate that the firm will post earnings of $10.75 per share, with EPS estimates ranging from $9.85 to $12.83. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Apple.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion for the quarter, compared to the consensus estimate of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. Apple’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS.
A number of analysts have recently commented on the company. Keefe, Bruyette & Woods set a $170.00 price target on Apple and gave the company a “buy” rating in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $170.00 price target on shares of Apple in a research note on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and issued a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $177.00 price target (up from $161.00) on shares of Apple in a research note on Wednesday, May 17th. Finally, Maxim Group upped their price target on Apple from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 19th. Eleven analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. Apple currently has a consensus rating of “Buy” and a consensus price target of $168.89.
In related news, SVP D Bruce Sewell sold 31,625 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $158.13, for a total value of $5,000,861.25. Following the transaction, the senior vice president now directly owns 112,430 shares of the company’s stock, valued at approximately $17,778,555.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Riccio sold 11,949 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $142.86, for a total transaction of $1,707,034.14. The disclosure for this sale can be found here. Insiders sold a total of 432,930 shares of company stock worth $69,008,577 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Family Advisors LLC lifted its stake in Apple by 17.8% in the 2nd quarter. Pinnacle Family Advisors LLC now owns 13,454 shares of the iPhone maker’s stock worth $1,938,000 after purchasing an additional 2,035 shares in the last quarter. Intl Fcstone Inc. lifted its stake in Apple by 171.1% in the 2nd quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock worth $4,569,000 after purchasing an additional 20,022 shares in the last quarter. Griffin Asset Management Inc. purchased a new position in Apple in the 2nd quarter worth approximately $7,126,000. Gs Investments Inc. purchased a new position in Apple in the 2nd quarter worth approximately $4,180,000. Finally, Aldebaran Financial Inc. lifted its stake in Apple by 5.1% in the 2nd quarter. Aldebaran Financial Inc. now owns 25,732 shares of the iPhone maker’s stock worth $3,706,000 after purchasing an additional 1,255 shares in the last quarter. 60.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apple (AAPL) traded down 1.63% during mid-day trading on Friday, reaching $158.63. 28,611,535 shares of the company traded hands. Apple has a 52-week low of $102.53 and a 52-week high of $164.94. The stock has a market capitalization of $819.36 billion, a PE ratio of 18.01 and a beta of 1.27. The stock’s 50 day moving average is $157.79 and its 200 day moving average is $148.59.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 10th. Apple’s dividend payout ratio is presently 28.64%.
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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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