Q1 2017 Earnings Forecast for Apple Inc. (AAPL) Issued By Credit Agricole SA
Apple Inc. (NASDAQ:AAPL) – Investment analysts at Credit Agricole SA upped their Q1 2017 EPS estimates for Apple in a research report issued to clients and investors on Friday. Credit Agricole SA analyst A. Silver now forecasts that the brokerage will earn $3.36 per share for the quarter, up from their previous forecast of $3.20. Credit Agricole SA currently has a “Buy” rating and a $130.00 price objective on the stock. Credit Agricole SA also issued estimates for Apple’s Q2 2017 earnings at $2.09 EPS, Q3 2017 earnings at $1.67 EPS, Q4 2017 earnings at $1.90 EPS and FY2017 earnings at $9.03 EPS.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The company had revenue of $42.36 billion for the quarter, compared to analysts’ expectations of $42.35 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The business’s revenue was down 14.6% compared to the same quarter last year.
Other equities analysts also recently issued reports about the company. Vetr upgraded Apple and set a $100.00 price objective for the company in a research report on Thursday, July 14th. Morgan Stanley set a $120.00 target price on Apple and gave the stock a “buy” rating in a report on Wednesday, May 25th. BMO Capital Markets reiterated a “buy” rating and issued a $117.00 target price on shares of Apple in a report on Tuesday, May 24th. Pacific Crest upgraded Apple to a “buy” rating in a report on Tuesday, May 24th. Finally, Brean Capital reiterated a “buy” rating on shares of Apple in a report on Tuesday, May 24th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, forty-two have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $126.49.
Shares of Apple (NASDAQ:AAPL) opened at 113.58 on Monday. Apple has a 52 week low of $89.47 and a 52 week high of $123.82. The stock’s 50 day moving average price is $108.13 and its 200-day moving average price is $102.24. The company has a market cap of $612.02 billion, a PE ratio of 13.24 and a beta of 1.14.
In other news, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the completion of the sale, the senior vice president now owns 105,839 shares of the company’s stock, valued at $10,583,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Angela J. Ahrendts sold 35,797 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $100.00, for a total transaction of $3,579,700.00. Following the completion of the sale, the senior vice president now directly owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AAPL. Vanguard Group Inc. raised its stake in Apple by 0.4% in the second quarter. Vanguard Group Inc. now owns 331,395,817 shares of the iPhone maker’s stock valued at $31,681,440,000 after buying an additional 1,408,642 shares during the last quarter. Geode Capital Management LLC raised its stake in Apple by 3.1% in the first quarter. Geode Capital Management LLC now owns 48,165,627 shares of the iPhone maker’s stock valued at $5,239,620,000 after buying an additional 1,458,142 shares during the last quarter. Norges Bank acquired a new stake in Apple during the fourth quarter valued at about $5,068,068,000. BlackRock Group LTD raised its stake in Apple by 1.6% in the second quarter. BlackRock Group LTD now owns 48,083,386 shares of the iPhone maker’s stock valued at $4,596,772,000 after buying an additional 759,339 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Apple by 0.8% in the first quarter. TIAA CREF Investment Management LLC now owns 36,623,863 shares of the iPhone maker’s stock valued at $3,991,635,000 after buying an additional 301,502 shares during the last quarter. 56.52% of the stock is owned by institutional investors.
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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