Brokerages Anticipate Alphabet Inc (GOOGL) Will Post Quarterly Sales of $31.26 Billion
Equities research analysts forecast that Alphabet Inc (NASDAQ:GOOGL) will announce $31.26 billion in sales for the current quarter, according to Zacks Investment Research. Thirteen analysts have issued estimates for Alphabet’s earnings, with the lowest sales estimate coming in at $30.45 billion and the highest estimate coming in at $31.81 billion. Alphabet posted sales of $25.87 billion during the same quarter last year, which indicates a positive year over year growth rate of 20.8%. The firm is expected to issue its next earnings results on Thursday, February 7th.
On average, analysts expect that Alphabet will report full year sales of $109.51 billion for the current fiscal year, with estimates ranging from $108.70 billion to $110.07 billion. For the next fiscal year, analysts forecast that the firm will post sales of $131.85 billion, with estimates ranging from $127.25 billion to $154.22 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Alphabet.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $10.54 by $2.52. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion for the quarter, compared to analyst estimates of $27.32 billion.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Well Done LLC bought a new stake in Alphabet during the first quarter valued at about $107,000. Parkside Investments LLC bought a new stake in Alphabet during the third quarter valued at about $124,000. ELM Advisors LLC bought a new stake in Alphabet during the third quarter valued at about $128,000. Emerald Investment Partners LLC bought a new stake in Alphabet during the second quarter valued at about $137,000. Finally, Private Ocean LLC boosted its position in Alphabet by 355.6% during the first quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 96 shares in the last quarter. 30.54% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:GOOGL opened at $1,062.47 on Thursday. Alphabet has a fifty-two week low of $984.00 and a fifty-two week high of $1,291.44. The firm has a market cap of $772.18 billion, a P/E ratio of 33.15, a P/E/G ratio of 1.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
Recommended Story: Balanced Fund
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.