Research Analysts Issue Forecasts for Apple Inc.’s FY2019 Earnings (AAPL)
Apple Inc. (NASDAQ:AAPL) – Research analysts at Oppenheimer Holdings issued their FY2019 earnings per share (EPS) estimates for Apple in a research note issued to investors on Sunday. Oppenheimer Holdings analyst A. Uerkwitz expects that the brokerage will earn $10.44 per share for the year. Oppenheimer Holdings currently has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Apple’s FY2020 earnings at $10.81 EPS.
Other equities research analysts have also issued reports about the company. Drexel Hamilton reiterated a “buy” rating and issued a $185.00 price objective on shares of Apple in a research report on Wednesday, September 14th. Piper Jaffray Cos. upgraded Apple to an “overweight” rating and set a $151.00 price objective on the stock in a research report on Friday, September 16th. Morgan Stanley reiterated an “overweight” rating and issued a $124.00 price objective on shares of Apple in a research report on Friday, October 14th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $124.00 price objective on shares of Apple in a research report on Monday, October 24th. Finally, Raymond James Financial Inc. reiterated an “outperform” rating on shares of Apple in a research report on Sunday, October 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, forty-two have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $128.29.
Shares of Apple (NASDAQ:AAPL) remained flat at $111.23 during trading on Tuesday. The company had a trading volume of 27,426,394 shares. The company has a market capitalization of $593.11 billion, a PE ratio of 13.39 and a beta of 1.34. Apple has a 52-week low of $89.47 and a 52-week high of $119.92. The firm has a 50 day moving average price of $113.12 and a 200 day moving average price of $105.17.
Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. Apple had a return on equity of 35.59% and a net margin of 21.19%. The company had revenue of $46.85 billion for the quarter, compared to analyst estimates of $46.88 billion. During the same period in the prior year, the firm earned $1.96 earnings per share. Apple’s revenue for the quarter was down 9.0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Thursday, November 3rd. Apple’s payout ratio is 27.57%.
In other Apple news, insider Philip W. Schiller sold 43,769 shares of the business’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $115.07, for a total transaction of $5,036,498.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 16,950 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $110.03, for a total transaction of $1,865,008.50. Following the transaction, the chief financial officer now directly owns 12,055 shares of the company’s stock, valued at $1,326,411.65. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Penserra Capital Management LLC raised its position in Apple by 39.2% in the second quarter. Penserra Capital Management LLC now owns 1,080 shares of the iPhone maker’s stock worth $103,000 after buying an additional 304 shares during the last quarter. Armbruster Capital Management Inc. increased its stake in Apple by 35.1% in the third quarter. Armbruster Capital Management Inc. now owns 1,024 shares of the iPhone maker’s stock worth $116,000 after buying an additional 266 shares during the period. Cedar Wealth Management LLC increased its stake in Apple by 42.9% in the third quarter. Cedar Wealth Management LLC now owns 1,072 shares of the iPhone maker’s stock worth $121,000 after buying an additional 322 shares during the period. Weaver C. Barksdale & Associates Inc. bought a new stake in Apple during the third quarter worth approximately $122,000. Finally, Live Your Vision LLC bought a new stake in Apple during the third quarter worth approximately $135,000. 56.81% of the stock is owned by hedge funds and other institutional investors.
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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