Apple Inc. Expected to Post Q1 2018 Earnings of $4.06 Per Share (AAPL)

Apple Inc. (NASDAQ:AAPL) – Analysts at KeyCorp increased their Q1 2018 earnings per share (EPS) estimates for shares of Apple in a research note issued to investors 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 forecast of $3.91. KeyCorp has a “Overweight” rating and a $187.00 price objective 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 announced its quarterly earnings data 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 company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS.

TRADEMARK VIOLATION WARNING: “Apple Inc. Expected to Post Q1 2018 Earnings of $4.06 Per Share (AAPL)” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another website, it was stolen and republished in violation of US & international copyright and trademark laws. The original version of this article can be read at https://www.dispatchtribunal.com/2017/10/27/apple-inc-expected-to-post-q1-2018-earnings-of-4-06-per-share-aapl.html.

Several other research analysts have also recently weighed in on AAPL. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Wednesday, June 21st. UBS AG reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a research report on Friday, June 23rd. Pacific Crest reissued an “equal weight” rating on shares of Apple in a report on Wednesday, June 28th. Citigroup Inc. reissued a “buy” rating and issued a $160.00 price objective on shares of Apple in a report on Tuesday, July 4th. Finally, Instinet reissued a “buy” rating and issued a $165.00 price objective on shares of Apple in a report on Wednesday, July 5th. Seven investment analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $190.46.

Shares of Apple (NASDAQ AAPL) traded down 0.29% on Tuesday, hitting $160.00. The company had a trading volume of 6,713,948 shares. The company has a market capitalization of $826.44 billion, a price-to-earnings ratio of 18.17 and a beta of 1.27. Apple has a 52 week low of $104.08 and a 52 week high of $164.94. The stock’s 50-day moving average is $157.58 and its 200 day moving average is $151.69.

A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Longer Investments Inc. grew its position in Apple by 4.8% during the 1st quarter. Longer Investments Inc. now owns 23,232 shares of the iPhone maker’s stock worth $3,338,000 after purchasing an additional 1,068 shares in the last quarter. Univest Corp of Pennsylvania grew its position in Apple by 2.3% during the 1st quarter. Univest Corp of Pennsylvania now owns 33,344 shares of the iPhone maker’s stock worth $4,790,000 after purchasing an additional 739 shares in the last quarter. P.R. Herzig & Co. Inc. grew its position in Apple by 2.7% during the 1st quarter. P.R. Herzig & Co. Inc. now owns 11,375 shares of the iPhone maker’s stock worth $1,634,000 after purchasing an additional 300 shares in the last quarter. Pennsylvania Trust Co grew its position in Apple by 1.2% during the 1st quarter. Pennsylvania Trust Co now owns 233,400 shares of the iPhone maker’s stock worth $33,530,000 after purchasing an additional 2,684 shares in the last quarter. Finally, Portfolio Solutions LLC purchased a new position in Apple during the 1st quarter worth approximately $169,000. Hedge funds and other institutional investors own 60.33% of the company’s stock.

In other Apple news, Director Arthur D. Levinson sold 35,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, the director now owns 1,168,283 shares of the company’s stock, valued at $184,098,035.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Insiders sold 541,177 shares of company stock worth $85,864,804 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

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.

Earnings History and Estimates for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply