$2.83 EPS Expected for Apple Inc. (NASDAQ:AAPL) This Quarter

Brokerages predict that Apple Inc. (NASDAQ:AAPL) will announce earnings of $2.83 per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Apple’s earnings. The lowest EPS estimate is $2.80 and the highest is $2.87. Apple posted earnings per share of $2.91 in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.7%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 30th.

On average, analysts expect that Apple will report full-year earnings of $11.69 per share for the current year, with EPS estimates ranging from $11.64 to $11.73. For the next fiscal year, analysts forecast that the business will report earnings of $13.00 per share, with EPS estimates ranging from $11.80 to $14.52. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Apple.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.08. Apple had a net margin of 21.50% and a return on equity of 52.13%. The business had revenue of $53.81 billion during the quarter, compared to analysts’ expectations of $53.39 billion. During the same quarter last year, the company earned $2.34 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis.

A number of brokerages have commented on AAPL. HSBC set a $190.00 price target on shares of Apple and gave the stock a “sell” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. set a $265.00 target price on shares of Apple and gave the company an “overweight” rating in a research note on Monday, September 30th. Loop Capital lifted their target price on shares of Apple to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. ValuEngine cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Goldman Sachs Group set a $165.00 target price on shares of Apple and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $223.22.

AAPL traded up $4.42 during midday trading on Friday, reaching $234.51. 1,029,760 shares of the company’s stock were exchanged, compared to its average volume of 30,148,068. The firm has a market capitalization of $1,058.26 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. Apple has a one year low of $142.00 and a one year high of $229.93. The business has a 50-day simple moving average of $216.29 and a two-hundred day simple moving average of $202.42.

In other news, insider Chris Kondo sold 4,376 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the completion of the transaction, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders sold a total of 433,749 shares of company stock valued at $91,773,322 in the last three months. 0.05% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in AAPL. Monument Capital Management lifted its position in Apple by 2.2% in the 2nd quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock valued at $491,000 after acquiring an additional 53 shares in the last quarter. Trinity Legacy Partners LLC lifted its position in Apple by 66.8% in the 2nd quarter. Trinity Legacy Partners LLC now owns 18,789 shares of the iPhone maker’s stock valued at $3,776,000 after acquiring an additional 7,523 shares in the last quarter. Pictet North America Advisors SA lifted its position in Apple by 3.3% in the 2nd quarter. Pictet North America Advisors SA now owns 131,021 shares of the iPhone maker’s stock valued at $25,932,000 after acquiring an additional 4,170 shares in the last quarter. Capital Bank & Trust Co lifted its position in Apple by 0.4% in the 2nd quarter. Capital Bank & Trust Co now owns 621,074 shares of the iPhone maker’s stock valued at $122,994,000 after acquiring an additional 2,330 shares in the last quarter. Finally, Rockland Trust Co. lifted its position in Apple by 4.8% in the 2nd quarter. Rockland Trust Co. now owns 20,618 shares of the iPhone maker’s stock valued at $4,081,000 after acquiring an additional 948 shares in the last quarter. 58.63% of the stock is owned by institutional investors.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

See Also: Retained Earnings

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Earnings History and Estimates for Apple (NASDAQ:AAPL)

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