FY2018 EPS Estimates for Apple Inc. (AAPL) Increased by Analyst
Apple Inc. (NASDAQ:AAPL) – Investment analysts at Credit Agricole SA lifted their FY2018 earnings estimates for shares of Apple in a note issued to investors on Friday. Credit Agricole SA analyst A. Silver now forecasts that the brokerage will earn $10.27 per share for the year, up from their prior forecast of $9.94. Credit Agricole SA currently has a “Buy” rating and a $130.00 price target on the stock.
A number of other equities research analysts also recently weighed in on AAPL. Raymond James Financial Inc. reiterated a “hold” rating on shares of Apple in a report on Saturday, July 9th. Barclays PLC restated a “buy” rating on shares of Apple in a research report on Sunday, July 17th. Credit Suisse Group AG restated a “buy” rating and set a $150.00 price objective on shares of Apple in a research report on Sunday, July 17th. RBC Capital Markets restated an “outperform” rating and issued a $117.00 price objective (up previously from $115.00) on shares of Apple in a report on Thursday, August 11th. Finally, Mizuho restated a “buy” rating and issued a $120.00 price objective on shares of Apple in a report on Monday, July 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, forty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $126.74.
Shares of Apple (NASDAQ:AAPL) opened at 117.63 on Monday. The company’s 50 day moving average price is $111.56 and its 200 day moving average price is $103.65. The firm has a market capitalization of $633.84 billion, a P/E ratio of 13.72 and a beta of 1.22. Apple has a one year low of $89.47 and a one year high of $123.82.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The firm earned $42.36 billion during the quarter, compared to the consensus estimate of $42.35 billion. During the same period last year, the company earned $1.85 earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock worth $31,681,440,000 after buying an additional 1,408,642 shares during the last quarter. BlackRock Group LTD boosted its position in Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock worth $4,596,772,000 after buying an additional 759,339 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock worth $3,991,635,000 after buying an additional 301,502 shares during the last quarter. Legal & General Group Plc boosted its position in Apple by 2.6% in the second quarter. Legal & General Group Plc now owns 24,474,691 shares of the iPhone maker’s stock worth $2,339,700,000 after buying an additional 625,760 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its position in Apple by 6,771.0% in the second quarter. Cohen & Steers Inc. now owns 22,633,195 shares of the iPhone maker’s stock worth $999,482,000 after buying an additional 22,303,795 shares during the last quarter. Institutional investors own 56.41% of the company’s stock.
In related news, insider Daniel J. Riccio sold 22,381 shares of Apple stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the sale, the insider now directly owns 47,043 shares in the company, valued at approximately $5,318,681.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 43,769 shares of Apple stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total transaction of $4,927,951.71. Following the completion of the sale, the chief operating officer now owns 90,657 shares of the company’s stock, valued at $10,207,071.63. The disclosure for this sale can be found here. 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.
Receive News & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.