Zacks: Analysts Anticipate QUALCOMM, Inc. (NASDAQ:QCOM) to Post $0.71 Earnings Per Share

Equities research analysts expect QUALCOMM, Inc. (NASDAQ:QCOM) to announce earnings per share of $0.71 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for QUALCOMM’s earnings. The highest EPS estimate is $0.73 and the lowest is $0.70. QUALCOMM posted earnings of $0.90 per share in the same quarter last year, which indicates a negative year over year growth rate of 21.1%. The firm is scheduled to report its next earnings results after the market closes on Wednesday, November 6th.

On average, analysts expect that QUALCOMM will report full year earnings of $3.46 per share for the current year, with EPS estimates ranging from $3.36 to $3.50. For the next year, analysts anticipate that the business will report earnings of $3.98 per share, with EPS estimates ranging from $3.52 to $4.42. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. QUALCOMM’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share.

Several analysts recently issued reports on the company. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Bank of America cut their target price on QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. BidaskClub raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th. Deutsche Bank cut their target price on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating on the stock in a research note on Thursday, August 1st. Finally, Mizuho set a $68.00 target price on QUALCOMM and gave the stock a “hold” rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Buy” and an average target price of $79.68.

In other news, SVP Erin L. Polek sold 1,478 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the completion of the transaction, the senior vice president now directly owns 1,386 shares in the company, valued at $97,518.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark D. Mclaughlin bought 2,705 shares of the stock in a transaction dated Wednesday, August 28th. The shares were acquired at an average price of $73.84 per share, with a total value of $199,737.20. Following the completion of the acquisition, the director now directly owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The disclosure for this purchase can be found here. Insiders sold 11,985 shares of company stock valued at $892,245 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Farmers Trust Co. grew its position in QUALCOMM by 3.1% in the 3rd quarter. Farmers Trust Co. now owns 4,382 shares of the wireless technology company’s stock worth $335,000 after purchasing an additional 132 shares during the period. Lindbrook Capital LLC grew its position in QUALCOMM by 5.2% in the 2nd quarter. Lindbrook Capital LLC now owns 2,821 shares of the wireless technology company’s stock worth $214,000 after purchasing an additional 139 shares during the period. 180 Wealth Advisors LLC grew its position in QUALCOMM by 3.9% in the 3rd quarter. 180 Wealth Advisors LLC now owns 3,744 shares of the wireless technology company’s stock worth $287,000 after purchasing an additional 141 shares during the period. Enterprise Financial Services Corp grew its position in QUALCOMM by 9.9% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,585 shares of the wireless technology company’s stock worth $121,000 after purchasing an additional 143 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its position in QUALCOMM by 8.6% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,862 shares of the wireless technology company’s stock worth $142,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 78.47% of the company’s stock.

Shares of NASDAQ QCOM traded up $1.75 during trading hours on Thursday, hitting $78.99. The company’s stock had a trading volume of 5,412,900 shares, compared to its average volume of 14,375,715. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. The stock has a market cap of $95.39 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.87 and a beta of 1.59. QUALCOMM has a 12 month low of $49.10 and a 12 month high of $90.34. The business has a 50-day simple moving average of $77.36 and a 200-day simple moving average of $75.00.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $2.48 annualized dividend and a yield of 3.14%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

See Also: Hedge Funds

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