$1.05 Earnings Per Share Expected for QUALCOMM, Inc. (QCOM) This Quarter
Equities research analysts predict that QUALCOMM, Inc. (NASDAQ:QCOM) will announce earnings of $1.05 per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for QUALCOMM’s earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $1.01. QUALCOMM posted earnings per share of $0.89 during the same quarter last year, which would indicate a positive year over year growth rate of 18%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, April 19th.
According to Zacks, analysts expect that QUALCOMM will report full year earnings of $4.10 per share for the current fiscal year, with EPS estimates ranging from $3.91 to $4.24. For the next financial year, analysts expect that the company will report earnings of $4.04 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 25th. The wireless technology company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The firm earned $5.99 billion during the quarter, compared to analysts’ expectations of $6.12 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS.
A number of analysts have recently issued reports on QCOM shares. Canaccord Genuity reiterated a “buy” rating and issued a $81.00 price objective on shares of QUALCOMM in a report on Thursday, January 12th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $80.00 price objective on shares of QUALCOMM in a report on Wednesday, January 18th. Morgan Stanley reiterated an “equal weight” rating on shares of QUALCOMM in a report on Wednesday, January 25th. Brean Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Thursday, January 26th. Finally, Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and an average target price of $67.65.
In related news, Director Anthony J. Vinciquerra purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was acquired at an average price of $53.99 per share, with a total value of $53,990.00. Following the completion of the purchase, the director now directly owns 1,281 shares in the company, valued at $69,161.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Cristiano R. Amon purchased 18,815 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was bought at an average cost of $53.13 per share, with a total value of $999,640.95. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Massey Quick & Co. LLC bought a new position in QUALCOMM during the fourth quarter worth approximately $105,000. Edmond DE Rothschild Monaco acquired a new position in shares of QUALCOMM during the third quarter valued at approximately $112,000. Tradewinds Capital Management LLC increased its position in shares of QUALCOMM by 4.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,785 shares of the wireless technology company’s stock valued at $122,000 after buying an additional 81 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of QUALCOMM by 94.0% in the third quarter. Penserra Capital Management LLC now owns 1,911 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 926 shares during the last quarter. Finally, American National Bank increased its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares during the last quarter. 79.28% of the stock is owned by institutional investors and hedge funds.
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QUALCOMM (NASDAQ:QCOM) traded down 0.388% during trading on Thursday, reaching $52.685. 2,929,104 shares of the company traded hands. QUALCOMM has a 12 month low of $50.11 and a 12 month high of $71.62. The company’s 50-day moving average is $56.76 and its 200 day moving average is $62.14. The company has a market cap of $77.82 billion, a PE ratio of 16.067 and a beta of 1.31.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Friday, May 26th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s payout ratio is 64.63%.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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