Brokerages expect Apple Inc. (NASDAQ:AAPL) to report earnings of $0.68 per share for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Apple’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.55. Apple posted earnings of $0.76 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 10.5%. The firm is scheduled to report its next earnings results on Wednesday, November 4th.
According to Zacks, analysts expect that Apple will report full-year earnings of $3.24 per share for the current year, with EPS estimates ranging from $3.09 to $3.34. For the next fiscal year, analysts forecast that the company will post earnings of $4.00 per share, with EPS estimates ranging from $3.66 to $4.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Apple.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.13. Apple had a return on equity of 70.66% and a net margin of 21.33%. The business had revenue of $59.69 billion for the quarter, compared to analyst estimates of $51.94 billion.
AAPL has been the topic of several recent research reports. Piper Sandler raised their price target on Apple from $77.50 to $112.50 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Royal Bank of Canada raised their price objective on Apple from $97.50 to $111.25 and gave the stock an “outperform” rating in a research note on Friday, July 31st. HSBC raised Apple from a “reduce” rating to a “hold” rating and dropped their price objective for the stock from $96.25 to $73.75 in a research note on Wednesday, June 10th. ValuEngine downgraded Apple from a “hold” rating to a “sell” rating in a research note on Tuesday, September 1st. Finally, JPMorgan Chase & Co. set a $150.00 price objective on Apple and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Apple has an average rating of “Buy” and a consensus target price of $104.10.
In related news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $496.91, for a total transaction of $131,760,655.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.05% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. bought a new position in Apple during the first quarter worth about $536,884,000. FMR LLC grew its holdings in Apple by 2.6% during the second quarter. FMR LLC now owns 95,825,047 shares of the iPhone maker’s stock worth $34,956,977,000 after purchasing an additional 2,448,814 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Apple by 2.7% during the first quarter. Geode Capital Management LLC now owns 64,178,586 shares of the iPhone maker’s stock worth $16,290,282,000 after acquiring an additional 1,696,496 shares during the period. Laidlaw Wealth Management LLC boosted its holdings in shares of Apple by 113,515.1% during the second quarter. Laidlaw Wealth Management LLC now owns 40,356,072 shares of the iPhone maker’s stock worth $111,000 after acquiring an additional 40,320,552 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Apple by 18.2% during the first quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock worth $6,850,960,000 after acquiring an additional 4,148,565 shares during the period. Institutional investors and hedge funds own 59.65% of the company’s stock.
NASDAQ:AAPL opened at $115.35 on Thursday. Apple has a 12-month low of $53.15 and a 12-month high of $137.98. The company has a quick ratio of 1.43, a current ratio of 1.47 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $1,999.95 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.25 and a beta of 1.28. The stock’s fifty day simple moving average is $115.05 and its 200-day simple moving average is $86.97.
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.
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