Company Update (NASDAQ:GOOG): George Osborne’s Budget Change To The Google Tax Is Quite Simply Illegal

[at Forbes] – As you may or may not know there’s something of an argument going on over in my native UK about the way in which the tech giants seem to get away with paying no corporation tax in that country. This applies to Google, Microsoft, Apple, Facebook: the usual suspects in Read more on this. Alphabet Inc. (GOOG) , valued at $509.61B, opened this morning at $736.45. During today’s session, GOOG traded between $736.05 to $741.79 and has traded between $515.18 and $789.87 over the past 12 months. GOOG shares are currently priced at 21.26x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.79x earnings multiple. Consensus earnings for the current quarter by the 36 sell-side analysts covering the stock is an estimate of $7.94 per share, which would be $1.06 better than the year-ago quarter and a $0.14 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $34.62, which would be a $5.04 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $20.30 Billion. If realized, that would be a 17.61% increase over the year-ago quarter. In terms of ratings, 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 $924.42, which is 25.52% above where the stock opened. See more in (NASDAQ:GOOG) Similar Articles: Company Update: Google Inc (NASDAQ:GOOG) – Google invented this weird-looking gadget to collect people’s medical info Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN) Company Update: Google Inc (NASDAQ:GOOG) – Spotify is making a big switch — and it’s a huge win for Google