$61.48 Billion in Sales Expected for Apple Inc. (AAPL) This Quarter

Wall Street analysts predict that Apple Inc. (NASDAQ:AAPL) will announce $61.48 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Apple’s earnings. The lowest sales estimate is $60.99 billion and the highest is $61.81 billion. Apple posted sales of $52.90 billion in the same quarter last year, which suggests a positive year over year growth rate of 16.2%. The business is expected to report its next earnings report on Tuesday, May 1st.

On average, analysts expect that Apple will report full-year sales of $61.48 billion for the current fiscal year, with estimates ranging from $253.19 billion to $267.79 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $264.90 billion per share, with estimates ranging from $240.25 billion to $277.78 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Apple.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $3.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.82 by $0.07. Apple had a return on equity of 37.37% and a net margin of 21.13%. The company had revenue of $88.29 billion during the quarter, compared to analysts’ expectations of $87.62 billion. During the same period last year, the firm earned $3.36 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis.

A number of equities research analysts recently commented on AAPL shares. Barclays lifted their price objective on Apple to $161.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. Rosenblatt Securities reaffirmed a “hold” rating and set a $150.00 price objective on shares of Apple in a research note on Sunday, October 15th. Pacific Crest raised Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 price objective for the company in a research note on Monday, October 16th. KeyCorp raised Apple from a “sector weight” rating to an “overweight” rating and lifted their price objective for the stock from $173.75 to $187.00 in a research note on Monday, October 16th. Finally, Mizuho set a $160.00 price objective on Apple and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $200.43.

In other Apple news, SVP Johny Srouji sold 5,760 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the transaction, the senior vice president now owns 81,560 shares of the company’s stock, valued at $14,224,064. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel J. Riccio sold 15,641 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $174.78, for a total value of $2,733,733.98. Following the transaction, the insider now directly owns 13,739 shares in the company, valued at approximately $2,401,302.42. The disclosure for this sale can be found here. Insiders have sold 128,412 shares of company stock worth $22,115,155 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. acquired a new stake in Apple during the second quarter worth approximately $400,000. University of Texas Investment Managment Co. acquired a new stake in Apple during the fourth quarter worth approximately $114,000. Blue Sky Asset Management LLC acquired a new stake in Apple during the second quarter worth approximately $108,000. FNY Managed Accounts LLC lifted its stake in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares during the last quarter. Finally, Armbruster Capital Management Inc. lifted its stake in Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after purchasing an additional 78 shares during the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Apple (NASDAQ AAPL) traded up $1.89 during trading on Friday, hitting $156.41. The company had a trading volume of 70,670,000 shares, compared to its average volume of 36,820,000. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. Apple has a twelve month low of $131.12 and a twelve month high of $180.10. The firm has a market capitalization of $800,070.00, a PE ratio of 16.09, a PEG ratio of 1.17 and a beta of 1.33.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $2.52 annualized dividend and a yield of 1.61%. Apple’s payout ratio is presently 25.93%.

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About Apple

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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