QUALCOMM Incorporated (NASDAQ:QCOM) Expected to Post Earnings of $0.69 Per Share
Brokerages expect QUALCOMM Incorporated (NASDAQ:QCOM) to report $0.69 earnings per share for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for QUALCOMM’s earnings. The highest EPS estimate is $0.71 and the lowest is $0.67. QUALCOMM reported earnings of $1.17 per share during the same quarter last year, which would indicate a negative year over year growth rate of 41%. The company is expected to report its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that QUALCOMM will report full year earnings of $3.67 per share for the current financial year, with EPS estimates ranging from $3.63 to $3.80. For the next year, analysts expect that the business will post earnings of $2.66 per share, with EPS estimates ranging from $2.03 to $3.30. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS.
Several equities research analysts recently commented on the company. UBS AG reissued a “neutral” rating and set a $58.00 target price on shares of QUALCOMM in a report on Tuesday, May 2nd. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday. Northland Securities cut QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $75.00 to $62.50 in a report on Wednesday, June 28th. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of QUALCOMM in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $63.96.
In other QUALCOMM news, President Derek K. Aberle sold 22,251 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the completion of the transaction, the president now owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michelle M. Sterling sold 5,509 shares of the business’s stock in a transaction 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. In the last three months, insiders have sold 62,802 shares of company stock valued at $3,544,381. Company insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARGI Investment Services LLC raised its position in QUALCOMM by 1.6% in the second quarter. ARGI Investment Services LLC now owns 5,165 shares of the wireless technology company’s stock worth $285,000 after buying an additional 79 shares in the last quarter. Gratus Capital LLC raised its position in QUALCOMM by 5.5% in the second quarter. Gratus Capital LLC now owns 91,342 shares of the wireless technology company’s stock worth $5,044,000 after buying an additional 4,729 shares in the last quarter. Principal Financial Group Inc. raised its position in QUALCOMM by 7.3% in the second quarter. Principal Financial Group Inc. now owns 2,289,686 shares of the wireless technology company’s stock worth $126,437,000 after buying an additional 156,005 shares in the last quarter. BKS Advisors LLC purchased a new position in QUALCOMM during the second quarter worth $245,000. Finally, Sullivan Bruyette Speros & Blaney LLC raised its position in QUALCOMM by 7.4% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,761 shares of the wireless technology company’s stock worth $208,000 after buying an additional 259 shares in the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM (NASDAQ QCOM) traded down 0.78% during midday trading on Tuesday, hitting $52.29. The company had a trading volume of 10,461,084 shares. The company’s 50 day moving average is $55.08 and its 200 day moving average is $55.95. The stock has a market cap of $77.18 billion, a price-to-earnings ratio of 20.03 and a beta of 1.29. QUALCOMM has a 12-month low of $51.05 and a 12-month high of $71.62. QUALCOMM also was the recipient of unusually large options trading on Monday. Investors bought 21,472 put options on the stock. This is an increase of approximately 152% compared to the average volume of 8,513 put options.
The company also recently announced 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. This represents a $2.28 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio is 87.36%.
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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