QUALCOMM Incorporated (QCOM) Expected to Post Earnings of $0.81 Per Share
Equities analysts expect that QUALCOMM Incorporated (NASDAQ:QCOM) will post earnings per share of $0.81 for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for QUALCOMM’s earnings, with estimates ranging from $0.78 to $0.83. QUALCOMM reported earnings of $1.28 per share during the same quarter last year, which indicates a negative year over year growth rate of 36.7%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that QUALCOMM will report full year earnings of $4.17 per share for the current financial year, with EPS estimates ranging from $4.14 to $4.21. For the next year, analysts anticipate that the business will post earnings of $3.32 per share, with EPS estimates ranging from $2.58 to $3.79. Zacks’ EPS calculations are an average based on a survey of research firms that cover QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter last year, the business posted $1.16 EPS. QUALCOMM’s quarterly revenue was down 11.1% compared to the same quarter last year.
Several brokerages have recently issued reports on QCOM. Vetr downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 target price on the stock. in a research note on Monday, May 22nd. Stifel Nicolaus boosted their price objective on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 26th. J P Morgan Chase & Co raised shares of QUALCOMM from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $50.00 to $68.00 in a report on Monday, May 22nd. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Finally, ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $63.96.
Shares of QUALCOMM (NASDAQ:QCOM) traded up 0.10% during midday trading on Thursday, hitting $52.30. 5,825,213 shares of the stock traded hands. The firm has a market capitalization of $77.20 billion, a PE ratio of 20.03 and a beta of 1.29. The company’s 50-day moving average is $52.06 and its 200 day moving average is $54.99. QUALCOMM has a 52 week low of $48.92 and a 52 week high of $71.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.36%. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
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In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the transaction, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders have sold 28,995 shares of company stock valued at $1,587,390 in the last quarter. 0.24% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Intl Fcstone Inc. raised its stake in shares of QUALCOMM by 132.9% in the second quarter. Intl Fcstone Inc. now owns 35,695 shares of the wireless technology company’s stock valued at $1,971,000 after acquiring an additional 20,366 shares during the period. Griffin Asset Management Inc. purchased a new stake in shares of QUALCOMM in the second quarter valued at $4,888,000. Gs Investments Inc. purchased a new stake in shares of QUALCOMM in the second quarter valued at $650,000. United Bank VA raised its stake in shares of QUALCOMM by 13.9% in the second quarter. United Bank VA now owns 64,846 shares of the wireless technology company’s stock valued at $3,581,000 after acquiring an additional 7,929 shares during the period. Finally, Paradigm Financial Advisors LLC raised its stake in shares of QUALCOMM by 23.1% in the second quarter. Paradigm Financial Advisors LLC now owns 74,976 shares of the wireless technology company’s stock valued at $4,140,000 after acquiring an additional 14,056 shares during the period. Institutional investors and hedge funds own 76.96% of the company’s stock.
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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