Brokers Set Expectations for Apple Inc.’s Q1 2018 Earnings (AAPL)
Apple Inc. (NASDAQ:AAPL) – Equities research analysts at KeyCorp lifted their Q1 2018 earnings estimates for Apple in a research note issued on Sunday. KeyCorp analyst A. Hargreaves now expects that the iPhone maker will earn $4.06 per share for the quarter, up from their previous estimate of $3.91. KeyCorp currently has a “Overweight” rating and a $187.00 price target on the stock. KeyCorp also issued estimates for Apple’s Q2 2018 earnings at $2.83 EPS, Q3 2018 earnings at $2.31 EPS, Q4 2018 earnings at $2.46 EPS and FY2018 earnings at $11.68 EPS.
Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $45.41 billion during the quarter, compared to analysts’ expectations of $44.94 billion. Apple had a net margin of 20.87% and a return on equity of 35.40%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. ILLEGAL ACTIVITY WARNING: “Brokers Set Expectations for Apple Inc.’s Q1 2018 Earnings (AAPL)” was originally posted by Watch List News and is the property of of Watch List News. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.watchlistnews.com/brokers-set-expectations-for-apple-inc-s-q1-2018-earnings-aapl/1641525.html.
Several other equities research analysts also recently commented on the company. Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective for the company in a report on Friday, September 22nd. Rosenblatt Securities reissued a “hold” rating and issued a $150.00 price objective on shares of Apple in a report on Sunday. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $170.00 price objective on shares of Apple in a report on Wednesday, June 21st. Nomura reaffirmed a “buy” rating and set a $165.00 price target on shares of Apple in a report on Wednesday, July 5th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $180.00 price target on shares of Apple in a report on Tuesday, September 26th. Seven investment analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $190.67.
Apple (NASDAQ AAPL) traded down 2.82% during mid-day trading on Tuesday, reaching $155.26. 25,959,257 shares of the company’s stock were exchanged. Apple has a 52-week low of $104.08 and a 52-week high of $164.94. The company has a market cap of $801.95 billion, a PE ratio of 17.63 and a beta of 1.27. The stock has a 50-day moving average price of $157.52 and a 200 day moving average price of $151.98.
In other news, CEO Timothy D. Cook sold 268,623 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total value of $43,148,912.49. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Craig Federighi sold 63,163 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $158.07, for a total value of $9,984,175.41. Following the completion of the transaction, the insider now owns 359,988 shares in the company, valued at $56,903,303.16. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock worth $85,864,804 over the last 90 days. Company insiders own 0.08% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Berkshire Hathaway Inc. lifted its position in shares of Apple by 0.6% in the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock valued at $18,750,246,000 after acquiring an additional 834,854 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after acquiring an additional 3,845,363 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Apple by 3.0% in the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock valued at $3,759,849,000 after acquiring an additional 771,046 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after acquiring an additional 15,018,790 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Apple by 1.5% in the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock valued at $2,760,779,000 after acquiring an additional 275,400 shares in the last quarter. Institutional investors and hedge funds own 60.33% of the company’s stock.
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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