Credit Agricole SA Analysts Increase Earnings Estimates for Apple Inc. (AAPL)

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Apple Inc. (NASDAQ:AAPL) – Equities research analysts at Credit Agricole SA increased their Q1 2017 earnings estimates for Apple in a report released on Friday. Credit Agricole SA analyst A. Silver now expects that the firm will post earnings per share of $3.36 for the quarter, up from their previous forecast of $3.20. Credit Agricole SA has a “Buy” rating and a $130.00 price target on the stock. Credit Agricole SA also issued estimates for Apple’s Q2 2017 earnings at $2.09 EPS, Q3 2017 earnings at $1.67 EPS, Q4 2017 earnings at $1.90 EPS and FY2017 earnings at $9.03 EPS.
Several other equities analysts have also issued reports on AAPL. Piper Jaffray Cos. restated a “buy” rating and set a $153.00 target price on shares of Apple in a research report on Sunday, May 22nd. Nomura restated a “buy” rating and set a $120.00 target price on shares of Apple in a research report on Monday, May 23rd. Brean Capital restated a “buy” rating on shares of Apple in a research report on Tuesday, May 24th. Pacific Crest upgraded Apple to a “buy” rating in a research report on Tuesday, May 24th. Finally, BMO Capital Markets restated a “buy” rating and set a $117.00 target price on shares of Apple in a research report on Tuesday, May 24th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Apple presently has a consensus rating of “Buy” and a consensus price target of $126.02.
Apple (NASDAQ:AAPL) opened at 114.92 on Monday. The firm’s 50-day moving average price is $106.77 and its 200 day moving average price is $101.83. Apple has a one year low of $89.47 and a one year high of $123.82. The firm has a market cap of $619.24 billion, a P/E ratio of 13.40 and a beta of 1.14.

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Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Tuesday, July 26th. The iPhone maker reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Apple had a return on equity of 37.89% and a net margin of 21.70%. The company had revenue of $42.36 billion for the quarter, compared to the consensus estimate of $42.35 billion. During the same quarter last year, the company posted $1.85 earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of AAPL. Cordasco Financial Network raised its position in shares of Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock worth $321,000 after buying an additional 12 shares during the last quarter. Cidel Asset Management Inc. raised its position in shares of Apple by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 4,186 shares of the iPhone maker’s stock worth $400,000 after buying an additional 13 shares during the last quarter. Boston Standard Wealth Management LLC raised its position in shares of Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock worth $218,000 after buying an additional 14 shares during the last quarter. Lbmc Investment Advisors LLC raised its position in shares of Apple by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 5,110 shares of the iPhone maker’s stock worth $489,000 after buying an additional 15 shares during the last quarter. Finally, Summit Financial Strategies Inc. raised its position in shares of Apple by 0.3% in the second quarter. Summit Financial Strategies Inc. now owns 6,533 shares of the iPhone maker’s stock worth $625,000 after buying an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 56.52% of the company’s stock.
In other news, CEO Timothy D. Cook sold 49,883 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $106.19, for a total transaction of $5,297,075.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $100.00, for a total value of $2,500,000.00. Following the transaction, the senior vice president now owns 105,839 shares of the company’s stock, valued at approximately $10,583,900. The disclosure for this sale can be found here. 0.08% of the stock is owned by company 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.

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