Zacks: Brokerages Expect Alphabet Inc Class A (GOOGL) Will Announce Earnings of $9.73 Per Share

Equities research analysts expect Alphabet Inc Class A (NASDAQ:GOOGL) to announce earnings of $9.73 per share for the current quarter, according to Zacks. Thirteen analysts have made estimates for Alphabet Inc Class A’s earnings. The lowest EPS estimate is $9.05 and the highest is $12.42. Alphabet Inc Class A posted earnings per share of $5.01 during the same quarter last year, which would suggest a positive year-over-year growth rate of 94.2%. The company is scheduled to announce its next earnings report on Monday, July 23rd.

On average, analysts expect that Alphabet Inc Class A will report full-year earnings of $40.27 per share for the current financial year, with EPS estimates ranging from $38.91 to $41.22. For the next financial year, analysts anticipate that the firm will report earnings of $49.03 per share, with EPS estimates ranging from $42.96 to $61.61. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Alphabet Inc Class A.

Alphabet Inc Class A (NASDAQ:GOOGL) last announced its earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, beating the Zacks’ consensus estimate of $9.21 by $0.72. Alphabet Inc Class A had a net margin of 14.19% and a return on equity of 15.58%. The business had revenue of $24.86 billion during the quarter, compared to analysts’ expectations of $24.20 billion. During the same period in the prior year, the company earned $7.73 earnings per share.

A number of brokerages have commented on GOOGL. Canaccord Genuity reaffirmed a “hold” rating on shares of Alphabet Inc Class A in a report on Tuesday, April 24th. Vetr raised shares of Alphabet Inc Class A from a “buy” rating to a “strong-buy” rating and set a $1,136.00 price objective for the company in a research note on Tuesday, April 3rd. MED began coverage on shares of Alphabet Inc Class A in a research note on Wednesday, April 11th. They issued a “buy” rating and a $1,036.50 price objective for the company. KeyCorp reissued an “overweight” rating and issued a $1,230.00 price objective (down from $1,280.00) on shares of Alphabet Inc Class A in a research note on Tuesday, April 24th. Finally, Aegis increased their price objective on shares of Alphabet Inc Class A from $1,350.00 to $1,360.00 and gave the stock a “buy” rating in a research note on Thursday, May 17th. Five analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the stock. Alphabet Inc Class A currently has an average rating of “Buy” and a consensus price target of $1,201.44.

GOOGL stock traded down $0.15 during midday trading on Tuesday, reaching $1,169.29. 1,711,003 shares of the company’s stock traded hands, compared to its average volume of 1,869,049. Alphabet Inc Class A has a 52-week low of $915.31 and a 52-week high of $1,201.49. The stock has a market cap of $812.70 billion, a P/E ratio of 36.48, a P/E/G ratio of 1.67 and a beta of 1.06. The company has a current ratio of 4.87, a quick ratio of 4.85 and a debt-to-equity ratio of 0.02.

Hedge funds have recently added to or reduced their stakes in the business. Well Done LLC bought a new stake in shares of Alphabet Inc Class A in the 1st quarter worth about $107,000. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in shares of Alphabet Inc Class A in the 4th quarter worth about $108,000. Westchester Capital Management Inc. lifted its holdings in shares of Alphabet Inc Class A by 1,262.5% in the 1st quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock worth $113,000 after acquiring an additional 101 shares during the last quarter. Stuart Chaussee & Associates Inc. bought a new stake in shares of Alphabet Inc Class A in the 4th quarter worth about $123,000. Finally, KHP Capital LLC bought a new stake in shares of Alphabet Inc Class A in the 1st quarter worth about $124,000. Institutional investors and hedge funds own 33.25% of the company’s stock.

Alphabet Inc Class A Company Profile

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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Earnings History and Estimates for Alphabet Inc Class A (NASDAQ:GOOGL)

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