Apple Inc. (NASDAQ:AAPL) Forecasted to Post FY2021 Earnings of $15.88 Per Share

Apple Inc. (NASDAQ:AAPL) – Oppenheimer lifted their FY2021 earnings estimates for Apple in a research note issued to investors on Tuesday, March 24th. Oppenheimer analyst A. Uerkwitz now anticipates that the iPhone maker will post earnings of $15.88 per share for the year, up from their prior estimate of $15.83. Oppenheimer has a “Outperform” rating and a $320.00 price objective on the stock.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, topping the Zacks’ consensus estimate of $4.54 by $0.45. Apple had a return on equity of 60.19% and a net margin of 21.49%. The company had revenue of $91.80 billion for the quarter, compared to analysts’ expectations of $88.41 billion. During the same period last year, the firm earned $4.18 EPS. Apple’s revenue for the quarter was up 8.9% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Co raised Apple from an “equal weight” rating to an “overweight” rating and set a $315.00 price target on the stock in a report on Friday, March 13th. Cascend Securities reissued a “buy” rating and set a $350.00 price target (down from $375.00) on shares of Apple in a report on Monday, March 2nd. Deutsche Bank raised Apple from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Tuesday. DA Davidson reissued a “buy” rating and set a $370.00 price target (down from $385.00) on shares of Apple in a report on Tuesday, February 18th. Finally, BidaskClub raised Apple from a “hold” rating to a “buy” rating in a report on Wednesday, March 4th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $303.07.

Shares of Apple stock opened at $258.46 on Thursday. Apple has a one year low of $170.27 and a one year high of $327.85. The stock’s fifty day moving average is $288.49 and its 200 day moving average is $270.30. The stock has a market cap of $1,110.76 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.80 and a beta of 1.30. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.56 and a current ratio of 1.60.

In other news, Director Arthur D. Levinson sold 1,429 shares of Apple stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $304.11, for a total value of $434,573.19. Following the sale, the director now directly owns 1,134,712 shares of the company’s stock, valued at $345,077,266.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.05% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAPL. Orgel Wealth Management LLC grew its position in Apple by 2.6% in the third quarter. Orgel Wealth Management LLC now owns 2,588 shares of the iPhone maker’s stock worth $580,000 after acquiring an additional 66 shares in the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Apple by 10.8% during the third quarter. Prestige Wealth Management Group LLC now owns 23,917 shares of the iPhone maker’s stock valued at $5,357,000 after buying an additional 2,328 shares during the period. Waratah Capital Advisors Ltd. purchased a new position in shares of Apple during the third quarter valued at approximately $466,000. Colony Group LLC boosted its position in shares of Apple by 0.3% during the third quarter. Colony Group LLC now owns 171,946 shares of the iPhone maker’s stock valued at $38,511,000 after buying an additional 498 shares during the period. Finally, AJ Wealth Strategies LLC boosted its position in shares of Apple by 4.1% during the third quarter. AJ Wealth Strategies LLC now owns 8,002 shares of the iPhone maker’s stock valued at $1,692,000 after buying an additional 312 shares during the period. Institutional investors own 60.69% of the company’s stock.

Apple Company Profile

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.

Further Reading: Capital Gains Distribution

Earnings History and Estimates for Apple (NASDAQ:AAPL)

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