$5.78 Billion in Sales Expected for QUALCOMM Incorporated (QCOM) This Quarter
Equities analysts predict that QUALCOMM Incorporated (NASDAQ:QCOM) will announce $5.78 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for QUALCOMM’s earnings, with the lowest sales estimate coming in at $5.59 billion and the highest estimate coming in at $5.84 billion. QUALCOMM reported sales of $6.18 billion during the same quarter last year, which suggests a negative year over year growth rate of 6.5%. The business is scheduled to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that QUALCOMM will report full year sales of $5.78 billion for the current financial year, with estimates ranging from $22.19 billion to $23.20 billion. For the next fiscal year, analysts anticipate that the company will post sales of $22.79 billion per share, with estimates ranging from $21.43 billion to $23.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year.
A number of brokerages recently weighed in on QCOM. Standpoint Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Friday, April 28th. Mizuho reaffirmed a “buy” rating and issued a $68.00 target price (down from $75.00) on shares of QUALCOMM in a report on Saturday, April 22nd. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $60.00 target price on shares of QUALCOMM in a report on Friday, June 30th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Hold” and a consensus price target of $63.96.
In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total transaction of $26,921.60. Following the sale, the executive vice president now directly owns 3,049 shares in the company, valued at approximately $174,646.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michelle M. Sterling sold 5,509 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $59.11, for a total transaction of $325,636.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,101 shares of company stock worth $2,955,612. 0.24% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in QCOM. Access Financial Services Inc. acquired a new stake in QUALCOMM during the fourth quarter worth approximately $1,134,000. Israel Discount Bank of New York GFN acquired a new stake in QUALCOMM during the fourth quarter worth approximately $414,000. Dodge & Cox acquired a new stake in QUALCOMM during the fourth quarter worth approximately $354,000. River & Mercantile Asset Management LLP acquired a new stake in QUALCOMM during the fourth quarter worth approximately $3,020,000. Finally, Baltimore Washington Financial Advisors Inc. increased its stake in QUALCOMM by 1.9% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 52,682 shares of the wireless technology company’s stock worth $3,434,000 after buying an additional 985 shares during the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.
Shares of QUALCOMM (QCOM) opened at 52.77 on Thursday. The stock’s 50 day moving average price is $54.70 and its 200 day moving average price is $55.64. The stock has a market cap of $77.89 billion, a price-to-earnings ratio of 20.21 and a beta of 1.29. QUALCOMM has a one year low of $51.05 and a one year high of $71.62. QUALCOMM also was the recipient of some unusual options trading activity on Monday. Investors acquired 21,472 put options on the company. This is an increase of 152% compared to the typical volume of 8,513 put options.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.32%. QUALCOMM’s dividend payout ratio is presently 87.36%.
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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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