Apple Inc. (AAPL) to Post Q1 2019 Earnings of $4.76 Per Share, Wedbush Forecasts

Apple Inc. (NASDAQ:AAPL) – Equities researchers at Wedbush dropped their Q1 2019 earnings per share estimates for Apple in a research note issued on Wednesday, November 28th. Wedbush analyst D. Ives now forecasts that the iPhone maker will post earnings per share of $4.76 for the quarter, down from their previous estimate of $4.95. Wedbush currently has a “Outperform” rating and a $275.00 price target on the stock. Wedbush also issued estimates for Apple’s Q2 2019 earnings at $3.05 EPS, Q3 2019 earnings at $2.53 EPS, Q4 2019 earnings at $3.13 EPS and FY2020 earnings at $15.17 EPS.

Other research analysts have also recently issued research reports about the stock. Macquarie set a $214.00 price target on shares of Apple and gave the company a “buy” rating in a report on Wednesday, August 15th. Morgan Stanley reiterated a “buy” rating and issued a $232.00 price target on shares of Apple in a report on Wednesday, August 22nd. S&P Equity Research upped their price target on shares of Apple to $250.00 and gave the company an “in-line” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. UBS Group assumed coverage on shares of Apple in a report on Wednesday, September 12th. Finally, Nomura reiterated a “neutral” rating and issued a $185.00 price target on shares of Apple in a report on Monday, November 5th. Four research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $220.67.

Apple stock opened at $178.58 on Friday. The company has a market capitalization of $882.51 billion, a PE ratio of 14.99, a P/E/G ratio of 1.29 and a beta of 1.26. Apple has a twelve month low of $150.24 and a twelve month high of $233.47. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion during the quarter, compared to analysts’ expectations of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.07 earnings per share.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Delphi Private Advisors LLC bought a new stake in Apple during the second quarter worth $120,000. Quattro Financial Advisors LLC bought a new position in shares of Apple in the first quarter valued at about $133,000. CX Institutional bought a new position in shares of Apple in the second quarter valued at about $135,000. Selective Wealth Management bought a new position in shares of Apple in the third quarter valued at about $194,000. Finally, Lawson Kroeker Investment Management Inc. NE bought a new position in shares of Apple in the third quarter valued at about $201,000. 57.65% of the stock is currently owned by hedge funds and other institutional investors.

In other Apple news, insider Chris Kondo sold 3,408 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $190.00, for a total transaction of $647,520.00. Following the sale, the insider now directly owns 8,940 shares of the company’s stock, valued at $1,698,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Angela J. Ahrendts sold 14,194 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $227.96, for a total transaction of $3,235,664.24. Following the sale, the senior vice president now directly owns 105,538 shares in the company, valued at $24,058,442.48. The disclosure for this sale can be found here. In the last three months, insiders sold 204,845 shares of company stock worth $47,015,677. 0.08% of the stock is currently owned by insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, November 8th. Apple’s dividend payout ratio is presently 24.52%.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Earnings History and Estimates for Apple (NASDAQ:AAPL)

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