Analysts expect Apple Inc. (NASDAQ:AAPL) to announce sales of $85.80 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Apple’s earnings, with the highest sales estimate coming in at $87.44 billion and the lowest estimate coming in at $84.01 billion. Apple posted sales of $78.35 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The company is expected to announce its next earnings results on Tuesday, January 30th.
According to Zacks, analysts expect that Apple will report full year sales of $85.80 billion for the current fiscal year, with estimates ranging from $251.71 billion to $306.81 billion. For the next fiscal year, analysts expect that the company will post sales of $268.88 billion per share, with estimates ranging from $242.88 billion to $296.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Apple.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, beating the consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to analysts’ expectations of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $1.50 EPS.
Several research firms have recently commented on AAPL. Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price target for the company in a report on Friday, September 22nd. Rosenblatt Securities reaffirmed a “hold” rating and set a $150.00 price objective on shares of Apple in a report on Sunday, October 15th. Citigroup Inc. reaffirmed a “buy” rating and set a $200.00 price objective (up from $170.00) on shares of Apple in a report on Friday, November 3rd. They noted that the move was a valuation call. Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 price objective on shares of Apple in a report on Tuesday, September 26th. Finally, Pacific Crest raised Apple from a “sector weight” rating to an “overweight” rating and set a $187.00 price objective for the company in a report on Monday, October 16th. Seven analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $199.14.
Apple (AAPL) traded down $1.21 on Wednesday, hitting $174.67. The stock had a trading volume of 25,145,500 shares, compared to its average volume of 27,305,193. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73. The firm has a market cap of $903,022.81, a PE ratio of 19.12, a P/E/G ratio of 1.41 and a beta of 1.23. Apple has a 1-year low of $104.08 and a 1-year high of $176.24.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio is presently 27.39%.
In other Apple news, insider Philip W. Schiller sold 56,808 shares of Apple stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Johny Srouji sold 10,469 shares of Apple stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $162.20, for a total transaction of $1,698,071.80. Following the sale, the senior vice president now directly owns 76,250 shares of the company’s stock, valued at approximately $12,367,750. The disclosure for this sale can be found here. Insiders have sold a total of 411,389 shares of company stock valued at $65,364,467 in the last ninety days. Company insiders own 0.08% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. Blue Sky Asset Management LLC bought a new position in shares of Apple during the second quarter worth $108,000. Hefty Wealth Partners boosted its position in shares of Apple by 27.6% during the second quarter. Hefty Wealth Partners now owns 804 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 174 shares in the last quarter. FNY Managed Accounts LLC boosted its position in shares of Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after purchasing an additional 716 shares in the last quarter. American Beacon Advisors Inc. bought a new position in shares of Apple during the first quarter worth $117,000. Finally, Private Vista LLC bought a new position in shares of Apple during the second quarter worth $122,000. 60.30% 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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