Equities research analysts forecast that Apple Inc. (NASDAQ:AAPL) will report earnings per share of $4.60 for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Apple’s earnings, with the highest EPS estimate coming in at $4.85 and the lowest estimate coming in at $4.17. Apple reported earnings per share of $3.89 during the same quarter last year, which suggests a positive year-over-year growth rate of 18.3%. The company is expected to announce its next quarterly earnings report on Thursday, February 7th.
On average, analysts expect that Apple will report full-year earnings of $13.07 per share for the current financial year, with EPS estimates ranging from $11.11 to $13.86. For the next year, analysts anticipate that the company will post earnings of $14.65 per share, with EPS estimates ranging from $12.09 to $15.75. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Apple.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The firm had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. During the same quarter last year, the company earned $2.07 EPS. The company’s revenue was up 19.6% on a year-over-year basis.
Several brokerages have recently issued reports on AAPL. Maxim Group decreased their price target on Apple from $212.00 to $160.00 and set a “hold” rating on the stock in a research note on Thursday. They noted that the move was a valuation call. Wedbush reiterated an “outperform” rating and issued a $200.00 price target (down previously from $275.00) on shares of Apple in a research note on Thursday. Royal Bank of Canada set a $185.00 price target on Apple and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group reiterated a “hold” rating and issued a $160.00 price target (down previously from $225.00) on shares of Apple in a research note on Thursday. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $200.00 price target (down previously from $300.00) on shares of Apple in a research note on Thursday. Three research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Apple currently has an average rating of “Hold” and an average price target of $195.64.
Apple stock opened at $148.26 on Wednesday. Apple has a one year low of $142.00 and a one year high of $233.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12. The firm has a market cap of $775.31 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.21 and a beta of 1.23.
In related news, insider Chris Kondo sold 3,408 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the sale, the insider now owns 8,940 shares in the company, valued at approximately $1,698,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in AAPL. Delphi Private Advisors LLC acquired a new position in Apple during the 2nd quarter worth about $120,000. Quattro Financial Advisors LLC acquired a new position in shares of Apple in the 1st quarter valued at about $133,000. CX Institutional acquired a new position in shares of Apple in the 2nd quarter valued at about $135,000. Selective Wealth Management acquired a new position in shares of Apple in the 3rd quarter valued at about $194,000. Finally, Lawson Kroeker Investment Management Inc. NE acquired a new position in shares of Apple in the 3rd quarter valued at about $201,000. 57.08% of the stock is currently owned by hedge funds and other institutional investors.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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