$85.80 Billion in Sales Expected for Apple Inc. (AAPL) This Quarter
Equities analysts expect Apple Inc. (NASDAQ:AAPL) to post $85.80 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Apple’s earnings, with the lowest sales estimate coming in at $84.01 billion and the highest estimate coming in at $87.44 billion. Apple posted sales of $78.35 billion in the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 30th.
On average, analysts expect that Apple will report full year sales of $85.80 billion for the current financial year, with estimates ranging from $251.71 billion to $306.81 billion. For the next fiscal year, analysts expect that the firm will report sales of $268.88 billion per share, with estimates ranging from $242.88 billion to $296.70 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Apple.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The company had revenue of $52.58 billion during the quarter, compared to analyst estimates of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.50 earnings per share.
Several equities research analysts have issued reports on AAPL shares. Barclays PLC reaffirmed a “hold” rating and set a $146.00 price target on shares of Apple in a research note on Monday, September 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Apple in a research note on Monday, September 11th. Morgan Stanley reiterated an “overweight” rating and issued a $194.00 price objective (up previously from $182.00) on shares of Apple in a report on Tuesday, September 12th. Credit Suisse Group reiterated an “outperform” rating and issued a $170.00 price objective on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie lifted their price objective on Apple from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $199.14.
In other news, SVP Johny Srouji sold 10,469 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the transaction, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at $12,367,750. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 6,209 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $161.96, for a total transaction of $1,005,609.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 411,389 shares of company stock worth $65,364,467. 0.08% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Stone House Investment Management LLC increased its stake in shares of Apple by 0.4% in the second quarter. Stone House Investment Management LLC now owns 1,570 shares of the iPhone maker’s stock worth $226,000 after buying an additional 6 shares during the last quarter. FC Advisory LLC increased its stake in shares of Apple by 0.4% in the second quarter. FC Advisory LLC now owns 2,576 shares of the iPhone maker’s stock worth $371,000 after buying an additional 10 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in shares of Apple by 0.3% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 5,431 shares of the iPhone maker’s stock worth $782,000 after buying an additional 17 shares during the last quarter. Lenox Wealth Advisors Inc. increased its stake in shares of Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares during the last quarter. Finally, BerganKDV Wealth Management LLC increased its stake in shares of Apple by 0.4% in the second quarter. BerganKDV Wealth Management LLC now owns 5,614 shares of the iPhone maker’s stock worth $809,000 after buying an additional 20 shares during the last quarter. 60.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apple (NASDAQ:AAPL) opened at $174.81 on Wednesday. The stock has a market capitalization of $894,653.88, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.40 and a beta of 1.23. Apple has a 52 week low of $104.08 and a 52 week high of $175.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.44%. Apple’s dividend payout ratio (DPR) is 27.39%.
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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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