Company Update: Google Inc (NASDAQ:GOOG) – Will Alphabet (GOOGL) Stock Fall as EU Regulators Prepare More Charges Against Google?
July 08, 2016 at 10:32 AM EDT
[at TheStreet] – European Union competition regulators are said to be preparing additional formal charges against Alphabet’s (GOOGL) Google unit over its shopping service. Read more on this. Alphabet Inc. (GOOG) , valued at $484.46B, began trading this morning at $699.50. Today, shares have traded between $696.43 and $705.71 per share and has traded between $525.55 and $789.87 over the past year. Google (GOOG) shares are currently priced at 20.72x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -1.36x earnings multiple for the same period. According to a consensus of 37 analysts, the earnings estimate of $8.05 per share would be $1.06 better than the year-ago quarter and a $0.14 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $33.56, which would be a $3.98 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.74 Billion. If reported, that would be a 16.98% increase over the year-ago quarter. More recently, Pivotal Research Group upgraded GOOG from Hold to Buy (Apr 11, 2016). Previously, Goldman upgraded GOOG from Neutral to Buy. The average price target for GOOG shares is $918.17, which is 31.26% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Market Update (NASDAQ:GOOG): Alphabet Might Step Up Apple Smartphone War With Google Handset Stock Update (NASDAQ:GOOG): Google says charges of altering search results to help Hillary Clinton are ‘simply false’ Market Update (NASDAQ:GOOG): EU hits Google with antitrust charges over Android conduct