Q2 2018 EPS Estimates for Apple Inc. Increased by KeyCorp (AAPL)
Apple Inc. (NASDAQ:AAPL) – Investment analysts at KeyCorp lifted their Q2 2018 earnings estimates for Apple in a research report issued to clients and investors on Thursday. KeyCorp analyst A. Hargreaves now expects that the iPhone maker will post earnings per share of $3.00 for the quarter, up from their prior estimate of $2.83. KeyCorp currently has a “Buy” rating and a $192.00 price target on the stock. KeyCorp also issued estimates for Apple’s Q4 2018 earnings at $2.48 EPS, Q1 2019 earnings at $3.71 EPS, Q4 2019 earnings at $2.49 EPS and FY2019 earnings at $11.29 EPS.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.20. Apple had a net margin of 21.09% and a return on equity of 36.29%. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis.
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Other analysts have also issued reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Apple in a research note on Tuesday, July 25th. Argus upped their price objective on shares of Apple to $210.00 and gave the stock a “buy” rating in a research note on Monday. Barclays PLC reissued a “hold” rating and set a $146.00 price target on shares of Apple in a research report on Tuesday, August 15th. Vetr raised shares of Apple from a “hold” rating to a “buy” rating and set a $166.96 price target for the company in a research report on Thursday, August 17th. Finally, J P Morgan Chase & Co set a $165.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and forty-six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $199.14.
Apple (NASDAQ:AAPL) traded up $2.25 during trading hours on Monday, reaching $174.75. 16,648,510 shares of the company were exchanged, compared to its average volume of 26,450,000. Apple has a 52 week low of $104.08 and a 52 week high of $174.91. The stock has a market capitalization of $900,690.00, a price-to-earnings ratio of 18.75, a PEG ratio of 1.40 and a beta of 1.25. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Saratoga Research & Investment Management increased its position in shares of Apple by 0.6% during the first quarter. Saratoga Research & Investment Management now owns 667,132 shares of the iPhone maker’s stock worth $95,840,000 after acquiring an additional 4,137 shares in the last quarter. Pinnacle Bank purchased a new position in Apple in the first quarter valued at about $1,924,000. Green Square Capital LLC boosted its stake in Apple by 6.7% in the first quarter. Green Square Capital LLC now owns 87,456 shares of the iPhone maker’s stock valued at $12,564,000 after acquiring an additional 5,491 shares during the last quarter. Headinvest LLC boosted its stake in Apple by 2.5% in the second quarter. Headinvest LLC now owns 16,295 shares of the iPhone maker’s stock valued at $2,347,000 after acquiring an additional 390 shares during the last quarter. Finally, Lederer & Associates Investment Counsel CA lifted its stake in shares of Apple by 2.1% during the 2nd quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock valued at $5,377,000 after buying an additional 779 shares in the last quarter. Hedge funds and other institutional investors own 60.30% of the company’s stock.
In other news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th. The shares were sold at an average price of $160.63, for a total transaction of $43,148,912.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Philip W. Schiller sold 56,808 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $154.70, for a total transaction of $8,788,197.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,389 shares of company stock worth $65,364,467. Insiders own 0.08% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be paid a $0.63 dividend. The ex-dividend date is Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a yield of 1.44%. Apple’s dividend payout ratio (DPR) is 27.42%.
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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