Zacks: Analysts Anticipate QUALCOMM Incorporated (NASDAQ:QCOM) Will Post Earnings of $1.58 Per Share


Share on StockTwits

Analysts forecast that QUALCOMM Incorporated (NASDAQ:QCOM) will report $1.58 earnings per share for the current quarter, according to Zacks. Seven analysts have issued estimates for QUALCOMM’s earnings. The highest EPS estimate is $1.75 and the lowest is $0.77. QUALCOMM posted earnings per share of $0.88 in the same quarter last year, which suggests a positive year-over-year growth rate of 79.5%. The business is expected to issue its next quarterly earnings report on Wednesday, May 5th.

On average, analysts expect that QUALCOMM will report full year earnings of $7.37 per share for the current financial year, with EPS estimates ranging from $7.10 to $7.66. For the next year, analysts expect that the firm will post earnings of $8.22 per share, with EPS estimates ranging from $7.29 to $9.26. Zacks’ EPS averages 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 results on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.07. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 62.2% compared to the same quarter last year.

A number of brokerages have recently commented on QCOM. Argus upped their price objective on shares of QUALCOMM from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Susquehanna Bancshares upped their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “positive” rating in a research report on Thursday, February 4th. Wells Fargo & Company raised shares of QUALCOMM to an “equal weight” rating and upped their price objective for the company from $120.00 to $145.00 in a research report on Thursday, November 5th. Barclays upped their price objective on shares of QUALCOMM from $135.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Finally, Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a research report on Thursday, February 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $157.81.

QCOM stock traded down $4.50 during mid-day trading on Tuesday, reaching $134.96. 829,090 shares of the stock traded hands, compared to its average volume of 10,313,883. The business has a 50-day moving average of $153.95 and a two-hundred day moving average of $135.95. The firm has a market capitalization of $153.31 billion, a PE ratio of 29.86, a P/E/G ratio of 1.27 and a beta of 1.34. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51. QUALCOMM has a 52 week low of $58.00 and a 52 week high of $167.94.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 25th. Stockholders of record on Thursday, March 4th will be paid a dividend of $0.65 per share. The ex-dividend date is Wednesday, March 3rd. This represents a $2.60 annualized dividend and a dividend yield of 1.93%. QUALCOMM’s dividend payout ratio (DPR) is currently 77.84%.

In other news, President Cristiano R. Amon sold 73,220 shares of the stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $148.72, for a total transaction of $10,889,278.40. Following the sale, the president now directly owns 50,753 shares of the company’s stock, valued at $7,547,986.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 35,102 shares of the stock in a transaction that occurred on Tuesday, December 8th. The shares were sold at an average price of $157.17, for a total transaction of $5,516,981.34. Following the sale, the executive vice president now directly owns 64,365 shares in the company, valued at $10,116,247.05. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moser Wealth Advisors LLC boosted its stake in QUALCOMM by 223.2% in the fourth quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock valued at $28,000 after acquiring an additional 125 shares during the last quarter. Capital Directions Investment Advisors LLC boosted its stake in QUALCOMM by 100.0% in the fourth quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Addison Advisors LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $32,000. Joseph P. Lucia & Associates LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $33,000. Finally, ForthRight Wealth Management LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $33,000. 74.76% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

Featured Story: Resistance Level

Get a free copy of the Zacks research report on QUALCOMM (QCOM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.