October 22, 2021

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Microsoft Co. (NASDAQ:MSFT) Forecasted to Post FY2024 Earnings of $10.59 Per Share

Microsoft Co. (NASDAQ:MSFT) – KeyCorp issued their FY2024 earnings per share estimates for shares of Microsoft in a research note issued to investors on Thursday, July 22nd. KeyCorp analyst M. Turits expects that the software giant will earn $10.59 per share for the year. KeyCorp has a “Overweight” rating and a $330.00 price target on the stock. Microsoft (NASDAQ:MSFT) last issued its quarterly earnings data on Tuesday, April 27th. The software giant reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.19. The firm had revenue of $41.71 billion during the quarter, compared to analysts’ expectations of $40.83 billion. Microsoft had a net margin of 35.02% and a return on equity of 43.75%. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.40 earnings per share.

Several other research analysts have also recently weighed in on the stock. Mizuho upped their price target on shares of Microsoft from $285.00 to $310.00 and gave the company a “buy” rating in a report on Friday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $340.00 price target on shares of Microsoft in a report on Wednesday, April 28th. Morgan Stanley reiterated a “buy” rating and issued a $300.00 price target on shares of Microsoft in a report on Wednesday, May 26th. Jefferies Financial Group reiterated an “outperform” rating and issued a $335.00 price target on shares of Microsoft in a report on Sunday. Finally, Wedbush upped their price target on shares of Microsoft from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, June 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $303.76.

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Microsoft stock opened at $289.67 on Monday. The firm has a market capitalization of $2.18 trillion, a PE ratio of 39.46, a PEG ratio of 2.66 and a beta of 0.79. Microsoft has a twelve month low of $196.25 and a twelve month high of $289.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.29 and a quick ratio of 2.26. The firm has a 50 day moving average of $263.60.

Several hedge funds have recently added to or reduced their stakes in the stock. Bruderman Asset Management LLC grew its stake in shares of Microsoft by 1.6% in the second quarter. Bruderman Asset Management LLC now owns 47,993 shares of the software giant’s stock valued at $13,002,000 after acquiring an additional 774 shares in the last quarter. CHICAGO TRUST Co NA grew its stake in Microsoft by 38.5% during the second quarter. CHICAGO TRUST Co NA now owns 64,876 shares of the software giant’s stock worth $17,575,000 after buying an additional 18,037 shares in the last quarter. TCW Group Inc. grew its stake in Microsoft by 4.2% during the second quarter. TCW Group Inc. now owns 318,983 shares of the software giant’s stock worth $86,412,000 after buying an additional 12,752 shares in the last quarter. Independence Bank of Kentucky grew its stake in Microsoft by 5.6% during the second quarter. Independence Bank of Kentucky now owns 15,122 shares of the software giant’s stock worth $4,097,000 after buying an additional 805 shares in the last quarter. Finally, Gemmer Asset Management LLC grew its stake in Microsoft by 1.5% during the second quarter. Gemmer Asset Management LLC now owns 12,525 shares of the software giant’s stock worth $3,393,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

In other Microsoft news, President Bradford L. Smith sold 8,000 shares of the company’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $250.27, for a total value of $2,002,160.00. Following the transaction, the president now directly owns 694,584 shares in the company, valued at $173,833,537.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Christopher C. Capossela sold 6,086 shares of the company’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $252.66, for a total transaction of $1,537,688.76. Following the completion of the transaction, the chief marketing officer now owns 92,119 shares in the company, valued at $23,274,786.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,586 shares of company stock worth $3,899,849. Corporate insiders own 0.05% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 9th. Shareholders of record on Thursday, August 19th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, August 18th. This represents a $2.24 annualized dividend and a dividend yield of 0.77%. Microsoft’s dividend payout ratio is currently 38.89%.

About Microsoft

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for small and medium businesses, organizations, and enterprise divisions.

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Earnings History and Estimates for Microsoft (NASDAQ:MSFT)

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