Apple (NASDAQ:AAPL) Posts Earnings Results, Beats Estimates By $0.55 EPS

Apple (NASDAQ:AAPL) issued its earnings results on Thursday. The iPhone maker reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.55, MarketWatch Earnings reports. The business had revenue of $59.69 billion during the quarter, compared to analyst estimates of $51.94 billion. Apple had a return on equity of 67.82% and a net margin of 21.33%.

AAPL stock opened at $425.04 on Friday. The firm has a 50 day moving average of $367.96 and a 200-day moving average of $313.71. The firm has a market capitalization of $1,842.27 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 3.13 and a beta of 1.18. Apple has a 12 month low of $192.58 and a 12 month high of $425.66. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14.

Shares of Apple are going to split before the market opens on Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly created shares will be issued to shareholders after the closing bell on Friday, August 28th.

The company also recently declared a dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a $0.82 dividend. The ex-dividend date is Friday, August 7th. Apple’s payout ratio is 27.59%.

In other Apple news, insider Chris Kondo sold 4,491 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $305.62, for a total value of $1,372,539.42. Following the sale, the insider now directly owns 7,370 shares in the company, valued at approximately $2,252,419.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.

AAPL has been the subject of several recent research reports. JPMorgan Chase & Co. set a $460.00 price objective on Apple and gave the company a “buy” rating in a report on Friday. Loop Capital upped their price objective on shares of Apple from $330.00 to $376.00 and gave the stock a “hold” rating in a report on Friday. Cowen raised their price objective on shares of Apple from $400.00 to $470.00 and gave the company an “outperform” rating in a research note on Friday. Cascend Securities boosted their target price on shares of Apple from $325.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Apple in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $370.23.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Earnings History for Apple (NASDAQ:AAPL)

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