Market Update (NASDAQ:GOOG): EU mulls probe of UK Google tax deal as Italy investigates

[AP] – Google is gearing up for a new round in its European tax fight after the EU said it could investigate its 130 million-pound ($186 million) deal for back taxes in Britain and Italy alleged Google owed it … Read more on this. Alphabet Inc. (GOOG) , valued at $500.00B, opened this morning at $722.22. Looking at the equity, the company’s one day range is $712.35 to $727.25 with a trailing 52-week range being $499.83 to $779.98. GOOG shares are currently priced at 24.16x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 12.49x earnings multiple. In a review of the consensus earnings estimate this quarter, 39 sell-side analysts are looking at $8.09 per share, which would be $1.74 better than the year-ago quarter and a $0.01 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $28.97 would be a $3.83 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.76 Billion. If reported, that would be a 43.37% increase over the year-ago quarter. Recently, Goldman upgraded GOOG from Neutral to Buy (Aug 26, 2015). Previously, Atlantic Equities upgraded GOOG from Neutral to Overweight. The average price target for GOOG shares by the analysts covering it is $853.67, which is 18.20% above where the stock opened. See more in (NASDAQ:GOOG) Similar Articles: Stock Update: Google Inc (NASDAQ:GOOG) – Rupert Murdoch Attacks Google Over U.K. Tax as Cameron Defends Deal Company Update (NASDAQ:GOOG): If Even A Tax QC Is Getting Google’s Tax Deal Wrong Then What Hope For The Rest Of Us? Stock Update: Google Inc (NASDAQ:GOOG) – The ‘Google of Russia’ Wins as Google Loses Antitrust Probe