Alphabet Inc (NASDAQ:GOOGL) Expected to Post Quarterly Sales of $38.45 Billion

Wall Street brokerages forecast that Alphabet Inc (NASDAQ:GOOGL) will report sales of $38.45 billion for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Alphabet’s earnings, with estimates ranging from $37.95 billion to $39.15 billion. Alphabet posted sales of $31.84 billion in the same quarter last year, which would indicate a positive year over year growth rate of 20.8%. The firm is expected to issue its next quarterly earnings report on Monday, February 3rd.

According to Zacks, analysts expect that Alphabet will report full-year sales of $132.72 billion for the current year, with estimates ranging from $132.25 billion to $133.34 billion. For the next fiscal year, analysts forecast that the business will report sales of $156.66 billion, with estimates ranging from $154.56 billion to $159.04 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Alphabet.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.42 by ($2.30). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The company had revenue of $33.01 billion during the quarter, compared to analyst estimates of $32.84 billion. During the same quarter in the prior year, the company earned $13.06 EPS.

Several equities analysts have issued reports on GOOGL shares. FBN Securities set a $1,400.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James reaffirmed an “outperform” rating on shares of Alphabet in a report on Wednesday, October 30th. Oppenheimer set a $1,370.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Citigroup reaffirmed a “buy” rating and issued a $1,450.00 target price (up from $1,325.00) on shares of Alphabet in a report on Friday, July 26th. Finally, BMO Capital Markets upped their target price on shares of Alphabet from $1,245.00 to $1,250.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,411.81.

Several hedge funds have recently added to or reduced their stakes in GOOGL. Roof Eidam & Maycock ADV acquired a new stake in Alphabet during the third quarter worth approximately $33,000. Garrett Wealth Advisory Group LLC acquired a new stake in Alphabet during the third quarter worth approximately $39,000. Litman Gregory Asset Management LLC acquired a new stake in Alphabet during the second quarter worth approximately $37,000. Lipe & Dalton acquired a new stake in Alphabet during the second quarter worth approximately $49,000. Finally, Johnson Financial Group Inc. boosted its position in Alphabet by 26.3% during the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 33.59% of the company’s stock.

NASDAQ GOOGL opened at $1,296.18 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75. Alphabet has a 1 year low of $977.66 and a 1 year high of $1,322.65. The company has a market capitalization of $895.41 billion, a PE ratio of 27.28, a P/E/G ratio of 1.59 and a beta of 1.01. The company has a fifty day moving average of $1,246.96 and a two-hundred day moving average of $1,182.23.

Alphabet 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 (NASDAQ:GOOGL)

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