Q2 2023 EPS Estimates for Microsoft Co. Decreased by KeyCorp (NASDAQ:MSFT)

Microsoft Co. (NASDAQ:MSFT – Get Rating) – Analysts at KeyCorp reduced their Q2 2023 earnings per share (EPS) estimates for Microsoft in a report released on Monday, January 23rd. KeyCorp analyst M. Turits now forecasts that the software giant will earn $2.27 per share for the quarter, down from their prior forecast of $2.28. The consensus estimate for Microsoft’s current full-year earnings is $9.51 per share. KeyCorp also issued estimates for Microsoft’s Q1 2024 earnings at $2.72 EPS.

Microsoft (NASDAQ:MSFT – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The software giant reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.02. Microsoft had a return on equity of 42.10% and a net margin of 34.37%. The firm had revenue of $52.75 billion for the quarter, compared to analyst estimates of $53.17 billion. During the same quarter in the prior year, the company posted $2.48 earnings per share. Microsoft’s quarterly revenue was up 2.0% on a year-over-year basis.

A number of other research analysts have also weighed in on the company. Raymond James lowered their target price on Microsoft from $300.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Royal Bank of Canada set a $285.00 target price on Microsoft in a report on Wednesday, January 18th. Jefferies Financial Group set a $270.00 target price on Microsoft in a report on Thursday, January 5th. Morgan Stanley lowered their target price on Microsoft from $325.00 to $307.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Finally, Piper Sandler lowered their target price on Microsoft from $265.00 to $247.00 and set an “overweight” rating on the stock in a report on Monday, January 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $287.79.

Microsoft Trading Down 0.2 %

Shares of MSFT stock opened at $242.04 on Tuesday. The business’s fifty day moving average price is $241.72 and its 200 day moving average price is $249.53. Microsoft has a 1-year low of $213.43 and a 1-year high of $315.95. The firm has a market capitalization of $1.80 trillion, a PE ratio of 26.08, a P/E/G ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.84 and a quick ratio of 1.79.

Microsoft Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Wednesday, February 15th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, February 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.12%. Microsoft’s payout ratio is currently 29.31%.

Insider Activity at Microsoft

In related news, EVP Judson Althoff sold 24,144 shares of the firm’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $254.27, for a total transaction of $6,139,094.88. Following the sale, the executive vice president now directly owns 150,047 shares in the company, valued at approximately $38,152,450.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Microsoft

Hedge funds have recently bought and sold shares of the business. Iron Horse Wealth Management LLC acquired a new position in shares of Microsoft in the 4th quarter worth approximately $26,000. Monumental Financial Group Inc. acquired a new position in shares of Microsoft in the 1st quarter worth approximately $28,000. Hanseatic Management Services Inc. grew its position in shares of Microsoft by 71.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 132 shares of the software giant’s stock worth $31,000 after acquiring an additional 55 shares in the last quarter. Retirement Financial Solutions LLC acquired a new position in shares of Microsoft in the 4th quarter worth approximately $40,000. Finally, Macroview Investment Management LLC acquired a new position in shares of Microsoft in the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 69.15% of the company’s stock.

Microsoft Company Profile

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.