$0.81 EPS Expected for QUALCOMM Incorporated (QCOM) This Quarter
Equities analysts expect QUALCOMM Incorporated (NASDAQ:QCOM) to announce $0.81 earnings per share (EPS) for the current quarter, according to Zacks. Nine analysts have made estimates for QUALCOMM’s earnings. The lowest EPS estimate is $0.78 and the highest is $0.83. QUALCOMM posted earnings per share of $1.28 in the same quarter last year, which suggests a negative year-over-year growth rate of 36.7%. The firm is expected to issue its next 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 expect that the firm will report earnings of $3.33 per share, with EPS estimates ranging from $2.58 to $3.79. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow QUALCOMM.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year.
A number of research firms recently commented on QCOM. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. BidaskClub upgraded QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Sanford C. Bernstein reiterated a “market perform” rating and set a $60.00 price target on shares of QUALCOMM in a report on Friday, June 30th. BMO Capital Markets reiterated a “market perform” rating and set a $55.00 price target on shares of QUALCOMM in a report on Thursday, August 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $65.00 price target on shares of QUALCOMM in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.96.
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In related news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares in the company, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,995 shares of company stock worth $1,587,390. Insiders own 0.17% of the company’s stock.
Several institutional investors have recently modified their holdings of QCOM. Vanguard Group Inc. lifted its holdings in QUALCOMM by 1.5% in the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after buying an additional 1,537,645 shares during the period. FMR LLC lifted its holdings in QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after buying an additional 11,387,347 shares during the period. Northern Trust Corp lifted its holdings in QUALCOMM by 2.6% in the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after buying an additional 499,531 shares during the period. Capital International Investors lifted its holdings in QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after buying an additional 5,671,176 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock valued at $575,769,000 after buying an additional 352,962 shares during the period. 77.03% of the stock is currently owned by institutional investors.
QUALCOMM (NASDAQ QCOM) traded up 0.90% during trading on Thursday, hitting $51.47. The company had a trading volume of 7,740,691 shares. QUALCOMM has a one year low of $48.92 and a one year high of $71.62. The stock has a market capitalization of $75.97 billion, a PE ratio of 19.71 and a beta of 1.29. The stock has a 50-day moving average of $52.23 and a 200-day moving average of $55.16.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.43%. QUALCOMM’s payout ratio is presently 87.36%.
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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