Stock Update: Google Inc (NASDAQ:GOOG) – Google faces record three billion euro EU antitrust fine: Telegraph

[Reuters] – Google (GOOGL.O) faces a record antitrust fine of around 3 billion euros ($3.4 billion) from the European Commission in the coming weeks, British newspaper The Sunday Telegraph said. The European Union has accused Google of promoting its shopping service in Internet searches at the expense of rival services in a case that has dragged on since late 2010. Several people familiar with the matter told Reuters last month they believed that after three failed attempts at a compromise in the past six years Google now had no plans to try to settle the allegations unless the EU watchdog changed its stance. Read more on this. Alphabet Inc. (GOOG) , with a current value of $487.44B, opened at $710.16. Looking at the equity, the company’s one day range is $705.65 to $713.17 with the price of the stock fluctuating between $515.18 to $789.87 over the last 52 weeks. GOOG shares are currently priced at 21.16x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 6.98x earnings multiple. In a review of the consensus earnings estimate this quarter, 37 sell-side analysts are looking at $8.06 per share, which would be $1.07 better than the year-ago quarter and a $0.13 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $33.60 would be a $4.02 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $20.75 Billion. If reported, that would be a 17.03% 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. When considering if the stock is under or overvalued, the average price target is $924.83, which is 30.23% above where the stock opened this morning. See more in (NASDAQ:GOOG) Similar Articles: Company Update (NASDAQ:GOOG): Google faces first EU fine in 2016 with no deal on cards: sources Company Update: Google Inc (NASDAQ:GOOG) – Russian anti-monopoly body puts off decision on possible Google fine to May 11 – RIA Stock Update (NASDAQ:GOOG): Google fails to overturn antitrust ruling in Russia