Zacks: Analysts Anticipate Alphabet Inc (GOOGL) Will Post Quarterly Sales of $25.65 Billion
Brokerages expect Alphabet Inc (NASDAQ:GOOGL) to post sales of $25.65 billion for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Alphabet’s earnings. The highest sales estimate is $26.36 billion and the lowest is $25.28 billion. Alphabet posted sales of $21.22 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, January 25th.
According to Zacks, analysts expect that Alphabet will report full-year sales of $25.65 billion for the current financial year, with estimates ranging from $88.59 billion to $89.67 billion. For the next financial year, analysts expect that the company will report sales of $105.47 billion per share, with estimates ranging from $102.63 billion to $107.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Alphabet.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. During the same quarter last year, the business posted $9.06 earnings per share.
A number of equities analysts recently weighed in on GOOGL shares. B. Riley reiterated a “buy” rating and issued a $1,050.00 price target on shares of Alphabet in a research report on Sunday, July 30th. Mizuho reiterated a “buy” rating and issued a $1,220.00 price target on shares of Alphabet in a research report on Monday, August 7th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,050.00 price target on shares of Alphabet in a research report on Wednesday, August 9th. MKM Partners reiterated a “buy” rating and issued a $1,210.00 price target (up previously from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Finally, Cowen Inc reiterated an “outperform” rating and issued a $1,075.00 price target on shares of Alphabet in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $1,088.53.
Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $108,000. Parkside Financial Bank & Trust grew its holdings in shares of Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after purchasing an additional 36 shares in the last quarter. Stelac Advisory Services LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $126,000. Finally, Odey Holdings AG grew its holdings in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares in the last quarter. 33.68% of the stock is currently owned by institutional investors and hedge funds.
Alphabet (NASDAQ:GOOGL) opened at $1,056.52 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. Alphabet has a 1 year low of $753.36 and a 1 year high of $1,063.62. The firm has a market capitalization of $734,071.19, a price-to-earnings ratio of 35.37, a P/E/G ratio of 1.77 and a beta of 0.91.
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Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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