Apple Inc. to Post FY2018 Earnings of $11.77 Per Share, Wedbush Forecasts (AAPL)
Apple Inc. (NASDAQ:AAPL) – Wedbush issued their FY2018 earnings estimates for shares of Apple in a report released on Thursday, October 18th. Wedbush analyst D. Ives expects that the iPhone maker will post earnings per share of $11.77 for the year. Wedbush has a “Outperform” rating and a $310.00 price target on the stock. Wedbush also issued estimates for Apple’s Q4 2018 earnings at $2.78 EPS, Q1 2019 earnings at $4.95 EPS, Q2 2019 earnings at $3.11 EPS, Q3 2019 earnings at $2.67 EPS, Q4 2019 earnings at $3.02 EPS and FY2019 earnings at $13.80 EPS.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.16. The business had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $1.67 EPS.
Shares of NASDAQ AAPL opened at $219.31 on Monday. The company has a market capitalization of $1,077.94 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 1.69 and a beta of 1.36. Apple has a 1 year low of $150.24 and a 1 year high of $233.47. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.31 and a quick ratio of 1.24.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fort L.P. purchased a new position in Apple during the 2nd quarter worth $119,000. Delphi Private Advisors LLC purchased a new position in Apple during the 2nd quarter worth $120,000. Cranbrook Wealth Management LLC boosted its holdings in Apple by 76.1% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock worth $129,000 after acquiring an additional 302 shares during the last quarter. Brand Asset Management Group Inc. purchased a new position in Apple during the 2nd quarter worth $134,000. Finally, Quattro Financial Advisors LLC purchased a new position in Apple during the 1st quarter worth $133,000. 58.61% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction on Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Johny Srouji sold 14,140 shares of Apple stock in a transaction on Friday, August 17th. The shares were sold at an average price of $214.98, for a total transaction of $3,039,817.20. Following the completion of the sale, the insider now owns 68,302 shares of the company’s stock, valued at approximately $14,683,563.96. The disclosure for this sale can be found here. Insiders sold a total of 564,185 shares of company stock valued at $124,444,213 in the last quarter. 0.08% of the stock is currently owned by company insiders.
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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