Apple (AAPL) Set to Announce Earnings on Thursday

Apple (NASDAQ:AAPL) will release its earnings data after the market closes on Thursday, November 1st. Analysts expect Apple to post earnings of $2.77 per share for the quarter.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.16. The company had revenue of $53.27 billion during the quarter, compared to the consensus estimate of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. Apple’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 EPS. On average, analysts expect Apple to post $12 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Shares of Apple stock opened at $212.24 on Tuesday. The firm has a market cap of $1,063.14 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.66 and a beta of 1.36. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. Apple has a one year low of $150.24 and a one year high of $233.47.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the sale, the senior vice president now directly owns 105,538 shares in the company, valued at $24,554,471.08. The disclosure for this sale can be found here. Insiders have sold a total of 564,185 shares of company stock valued at $124,444,213 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in AAPL. Private Advisor Group LLC boosted its stake in shares of Apple by 1,185.5% during the 2nd quarter. Private Advisor Group LLC now owns 4,320,770 shares of the iPhone maker’s stock worth $800,386,000 after purchasing an additional 3,984,643 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Apple during the 2nd quarter worth about $706,904,000. FMR LLC boosted its stake in shares of Apple by 3.0% during the 2nd quarter. FMR LLC now owns 103,652,293 shares of the iPhone maker’s stock worth $19,187,075,000 after purchasing an additional 3,019,688 shares during the last quarter. Harvard Management Co. Inc. acquired a new stake in shares of Apple during the 1st quarter worth about $283,972,000. Finally, Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Apple during the 2nd quarter worth about $191,329,000. 58.43% of the stock is currently owned by institutional investors.

A number of brokerages have commented on AAPL. Loop Capital upped their price objective on shares of Apple from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, July 6th. BidaskClub downgraded shares of Apple from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 12th. Morgan Stanley restated a “buy” rating and set a $247.00 price objective on shares of Apple in a research report on Wednesday, September 26th. JPMorgan Chase & Co. restated a “buy” rating and set a $272.00 price objective on shares of Apple in a research report on Wednesday, October 10th. Finally, Royal Bank of Canada restated a “buy” rating and set a $240.00 price objective on shares of Apple in a research report on Tuesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirty-two have given a buy rating to the stock. Apple has a consensus rating of “Buy” and an average target price of $225.09.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Further Reading: Stock Symbols Definition, Examples, Lookup

Earnings History for Apple (NASDAQ:AAPL)

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