Brokerages expect QUALCOMM, Inc. (NASDAQ:QCOM) to post earnings per share of $0.76 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for QUALCOMM’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.75. QUALCOMM posted earnings per share of $1.01 during the same quarter last year, which suggests a negative year-over-year growth rate of 24.8%. The company is expected to announce its next earnings results after the market closes on Wednesday, July 31st.
According to Zacks, analysts expect that QUALCOMM will report full-year earnings of $3.82 per share for the current fiscal year, with EPS estimates ranging from $3.65 to $4.06. For the next year, analysts anticipate that the firm will post earnings of $5.31 per share, with EPS estimates ranging from $4.33 to $6.00. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The company had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the business posted $0.80 EPS. QUALCOMM’s revenue for the quarter was down 5.9% on a year-over-year basis.
Several research firms recently weighed in on QCOM. Macquarie set a $85.00 price objective on QUALCOMM and gave the company a “buy” rating in a report on Wednesday, April 17th. Rosenblatt Securities lifted their target price on QUALCOMM from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Cowen reaffirmed an “outperform” rating and set a $91.00 target price (up from $70.00) on shares of QUALCOMM in a report on Wednesday, April 17th. Finally, Barclays lifted their target price on QUALCOMM from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $79.68.
In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 848,877 shares of QUALCOMM stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total value of $29,031,593.40. Following the completion of the sale, the insider now directly owns 848,877 shares of the company’s stock, valued at $29,031,593.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Cristiano R. Amon sold 13,466 shares of QUALCOMM stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total transaction of $807,960.00. Following the completion of the sale, the president now directly owns 37,614 shares of the company’s stock, valued at $2,256,840. The disclosure for this sale can be found here. Over the last three months, insiders have sold 949,832 shares of company stock worth $37,443,538. 0.11% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Weaver Consulting Group bought a new stake in QUALCOMM in the 1st quarter valued at about $25,000. Meridian Wealth Management LLC bought a new stake in QUALCOMM in the 1st quarter valued at about $26,000. Farmers National Bank bought a new stake in QUALCOMM in the 1st quarter valued at about $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in QUALCOMM in the 1st quarter valued at about $29,000. Finally, Field & Main Bank bought a new stake in QUALCOMM in the 1st quarter valued at about $32,000. 76.27% of the stock is currently owned by institutional investors.
Shares of NASDAQ QCOM traded down $0.01 during mid-day trading on Wednesday, hitting $76.65. 1,970,091 shares of the stock traded hands, compared to its average volume of 11,386,467. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. QUALCOMM has a twelve month low of $49.10 and a twelve month high of $90.34. The firm has a market capitalization of $93.20 billion, a P/E ratio of 24.03, a PEG ratio of 1.70 and a beta of 1.63. The firm’s 50 day simple moving average is $71.51.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 6th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.24%. QUALCOMM’s payout ratio is presently 77.74%.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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