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.
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.
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