Analysts Expect Alphabet Inc Class A (GOOGL) Will Post Earnings of $10.54 Per Share

Equities analysts forecast that Alphabet Inc Class A (NASDAQ:GOOGL) will announce earnings per share (EPS) of $10.54 for the current fiscal quarter, Zacks reports. Thirteen analysts have provided estimates for Alphabet Inc Class A’s earnings, with estimates ranging from $9.63 to $11.90. Alphabet Inc Class A reported earnings of $9.57 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The firm is scheduled to announce its next earnings report after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that Alphabet Inc Class A will report full year earnings of $39.73 per share for the current year, with EPS estimates ranging from $37.96 to $42.02. For the next year, analysts forecast that the firm will report earnings of $48.54 per share, with EPS estimates ranging from $45.13 to $54.17. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Alphabet Inc Class A.

Alphabet Inc Class A (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.51 by $2.24. The business had revenue of $26.24 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Alphabet Inc Class A had a return on equity of 18.24% and a net margin of 13.16%. During the same period in the previous year, the company posted $5.01 earnings per share.

GOOGL has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and issued a $1,250.00 price target (up from $1,200.00) on shares of Alphabet Inc Class A in a research note on Thursday, June 28th. Credit Suisse Group reiterated an “outperform” rating and issued a $1,330.00 price target (down from $1,350.00) on shares of Alphabet Inc Class A in a research note on Monday, July 16th. Macquarie reiterated a “buy” rating and issued a $1,250.00 price target on shares of Alphabet Inc Class A in a research note on Monday, August 27th. Pivotal Research cut their price target on Alphabet Inc Class A from $1,080.00 to $1,010.00 and set a “hold” rating for the company in a research note on Friday, October 12th. Finally, Citigroup reiterated a “buy” rating and issued a $1,400.00 price target (up from $1,350.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-one have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $1,324.57.

Shares of GOOGL stock opened at $1,105.18 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13. The company has a market capitalization of $764.09 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.38 and a beta of 1.10. Alphabet Inc Class A has a 1 year low of $977.08 and a 1 year high of $1,291.44.

Institutional investors and hedge funds have recently made changes to their positions in the company. Summit Trail Advisors LLC increased its holdings in Alphabet Inc Class A by 134,676.9% in the first quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after purchasing an additional 17,925,496 shares during the period. Cornerstone Wealth Management LLC increased its holdings in Alphabet Inc Class A by 115,058.0% in the second quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after purchasing an additional 1,387,599 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in Alphabet Inc Class A in the second quarter valued at $774,000. OppenheimerFunds Inc. increased its holdings in Alphabet Inc Class A by 78.1% in the first quarter. OppenheimerFunds Inc. now owns 1,313,669 shares of the information services provider’s stock valued at $1,362,458,000 after purchasing an additional 575,882 shares during the period. Finally, Private Advisor Group LLC increased its holdings in Alphabet Inc Class A by 6,916.2% in the second quarter. Private Advisor Group LLC now owns 350,598 shares of the information services provider’s stock valued at $395,965,000 after purchasing an additional 345,601 shares during the period. Institutional investors own 33.53% of the company’s stock.

About Alphabet Inc Class A

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.

Recommended Story: Day Trading

Get a free copy of the Zacks research report on Alphabet Inc Class A (GOOGL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Alphabet Inc Class A Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc Class A and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply