Apple (AAPL) to Release Quarterly Earnings on Thursday

Apple (NASDAQ:AAPL) is scheduled to announce its earnings results after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of $1.60 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. On average, analysts expect Apple to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Apple Stock Down 2.2 %

Shares of NASDAQ:AAPL opened at $230.76 on Thursday. Apple has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market cap of $3.54 trillion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a fifty day simple moving average of $226.64 and a 200 day simple moving average of $209.48.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is 15.55%.

Insider Activity

In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 in the last three months. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. UBS Group reissued a “hold” rating and issued a $236.00 price target on shares of Apple in a report on Wednesday, October 16th. Moffett Nathanson assumed coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.27.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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, and HomePod.