$2.69 EPS Expected for Apple Inc. (NASDAQ:AAPL) This Quarter

Wall Street brokerages predict that Apple Inc. (NASDAQ:AAPL) will post earnings of $2.69 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Apple’s earnings, with the highest EPS estimate coming in at $3.08 and the lowest estimate coming in at $2.09. Apple posted earnings of $3.03 per share during the same quarter last year, which would suggest a negative year over year growth rate of 11.2%. The firm is scheduled to issue its next earnings results on Wednesday, November 4th.

On average, analysts expect that Apple will report full-year earnings of $12.43 per share for the current financial year, with EPS estimates ranging from $11.89 to $13.18. For the next financial year, analysts expect that the firm will post earnings of $15.46 per share, with EPS estimates ranging from $14.13 to $16.95. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Apple.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.58 EPS for the quarter, topping the consensus estimate of $2.03 by $0.55. Apple had a return on equity of 67.82% and a net margin of 21.33%. The business had revenue of $59.69 billion during the quarter, compared to analysts’ expectations of $51.94 billion.

AAPL has been the topic of a number of recent research reports. Credit Suisse Group restated a “neutral” rating and issued a $340.00 target price (up previously from $295.00) on shares of Apple in a report on Wednesday. Needham & Company LLC raised their target price on Apple from $350.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. set a $460.00 target price on Apple and gave the company a “buy” rating in a report on Friday. Fundamental Research reiterated a “buy” rating and set a $409.26 price target on shares of Apple in a report on Tuesday, July 14th. Finally, HSBC upgraded Apple from a “reduce” rating to a “hold” rating and dropped their price target for the stock from $385.00 to $295.00 in a report on Wednesday, June 10th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $370.23.

In related news, insider Chris Kondo sold 4,491 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $305.62, for a total value of $1,372,539.42. Following the completion of the transaction, the insider now owns 7,370 shares in the company, valued at $2,252,419.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AAPL. Orser Capital Management LLC lifted its position in Apple by 7.2% in the fourth quarter. Orser Capital Management LLC now owns 12,323 shares of the iPhone maker’s stock worth $3,592,000 after purchasing an additional 826 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Apple by 22.9% during the 4th quarter. Quadrant Capital Group LLC now owns 55,530 shares of the iPhone maker’s stock valued at $16,262,000 after purchasing an additional 10,344 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Apple by 2.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 711,502 shares of the iPhone maker’s stock valued at $208,933,000 after buying an additional 14,388 shares in the last quarter. Vigilare Wealth Management purchased a new stake in Apple during the fourth quarter valued at about $3,636,000. Finally, First Republic Investment Management Inc. lifted its position in shares of Apple by 7.6% in the fourth quarter. First Republic Investment Management Inc. now owns 2,744,089 shares of the iPhone maker’s stock worth $805,801,000 after purchasing an additional 194,080 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Apple stock traded up $40.28 during mid-day trading on Friday, reaching $425.04. The stock had a trading volume of 93,573,867 shares, compared to its average volume of 30,266,534. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 1.50. Apple has a fifty-two week low of $192.58 and a fifty-two week high of $425.66. The stock’s 50-day simple moving average is $367.96 and its 200-day simple moving average is $313.71. The firm has a market capitalization of $1,842.26 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 3.13 and a beta of 1.18.

Shares of Apple are going to split before the market opens on Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly created shares will be payable to shareholders after the market closes on Friday, August 28th.

The business also recently declared a dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, August 7th. Apple’s dividend payout ratio is currently 27.59%.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.

See Also: Fundamental Analysis – How It Helps Investors

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Earnings History and Estimates for Apple (NASDAQ:AAPL)

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