Market Update (NASDAQ:GOOG): Why the EU Hit Google With Its Antitrust Stick. Again.

[at Fortune] – European Union officials say Google forces phone makers and carriers to install its services. Read more on this. Alphabet Inc. (GOOG) , valued at $520.57B, began trading this morning at $755.38. Shares have traded today between $749.55 and $759.47 per share and has traded between $515.18 and $789.87 over the past year. Priced at 21.73x this year’s forecasted earnings, GOOG shares are relatively expensive compared to the industry’s 16.23x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 38 sell-side analysts are looking at $7.96 per share, which would be $1.08 better than the year-ago quarter and a $0.16 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $34.63 would be a $5.05 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $20.38 Billion. If realized, that would be a 18.08% increase over the year-ago quarter. 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 by the analysts covering it is $930.08, which is 23.13% above where the stock opened. See more in (NASDAQ:GOOG) Similar Articles: Market Update (NASDAQ:GOOG): EU hits Google with antitrust charges over Android conduct Stock Update (NASDAQ:GOOG): Google fails to overturn antitrust ruling in Russia Market Update: Google Inc (NASDAQ:GOOG) – Google Express vs. Amazon Prime Now (GOOG, AMZN)
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