Zacks: Brokerages Anticipate Alphabet Inc (NASDAQ:GOOGL) Will Post Earnings of $12.72 Per Share

Brokerages forecast that Alphabet Inc (NASDAQ:GOOGL) will report $12.72 earnings per share (EPS) for the current quarter, according to Zacks. Eleven analysts have made estimates for Alphabet’s earnings, with the lowest EPS estimate coming in at $11.85 and the highest estimate coming in at $15.14. Alphabet posted earnings per share of $13.06 during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The company is scheduled to report its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Alphabet will report full year earnings of $49.65 per share for the current fiscal year, with EPS estimates ranging from $45.90 to $53.84. For the next year, analysts expect that the business will report earnings of $55.84 per share, with EPS estimates ranging from $50.65 to $62.54. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Alphabet.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the consensus estimate of $11.49 by $2.72. The firm had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%.

GOOGL has been the topic of a number of recent research reports. JMP Securities boosted their target price on Alphabet to $1,450.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Jefferies Financial Group boosted their target price on Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Raymond James set a $1,360.00 target price on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. FBN Securities set a $1,400.00 target price on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada boosted their target price on Alphabet to $1,425.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $1,371.05.

A number of large investors have recently made changes to their positions in GOOGL. Physicians Financial Services Inc. boosted its holdings in shares of Alphabet by 11.1% in the 4th quarter. Physicians Financial Services Inc. now owns 3,137 shares of the information services provider’s stock valued at $3,278,000 after buying an additional 314 shares in the last quarter. BB&T Corp boosted its holdings in shares of Alphabet by 5.2% in the 4th quarter. BB&T Corp now owns 21,420 shares of the information services provider’s stock valued at $22,384,000 after buying an additional 1,061 shares in the last quarter. Sitrin Capital Management LLC boosted its holdings in shares of Alphabet by 43.0% in the 4th quarter. Sitrin Capital Management LLC now owns 5,791 shares of the information services provider’s stock valued at $6,051,000 after buying an additional 1,740 shares in the last quarter. Dfpg Investments Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $428,000. Finally, Clearwater Capital Advisors LLC boosted its holdings in shares of Alphabet by 23.5% in the 4th quarter. Clearwater Capital Advisors LLC now owns 205 shares of the information services provider’s stock valued at $214,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 33.96% of the company’s stock.

NASDAQ:GOOGL opened at $1,169.32 on Tuesday. The firm has a market capitalization of $829.81 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.32 and a beta of 0.97. Alphabet has a 1-year low of $977.66 and a 1-year high of $1,296.97. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $1,157.83 and its 200 day moving average price is $1,158.06.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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