Zacks: Brokerages Expect QUALCOMM Incorporated (NASDAQ:QCOM) to Announce $2.86 Earnings Per Share

Brokerages predict that QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) will report earnings per share of $2.86 for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for QUALCOMM’s earnings. The highest EPS estimate is $2.91 and the lowest is $2.83. QUALCOMM reported earnings per share of $1.92 in the same quarter last year, which would suggest a positive year-over-year growth rate of 49%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that QUALCOMM will report full-year earnings of $12.54 per share for the current financial year, with EPS estimates ranging from $12.20 to $12.79. For the next year, analysts forecast that the business will report earnings of $13.25 per share, with EPS estimates ranging from $12.45 to $14.03. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for QUALCOMM.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.19. The business had revenue of $11.16 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. During the same period in the previous year, the business posted $1.59 earnings per share.

A number of analysts have recently issued reports on QCOM shares. Cowen boosted their price objective on QUALCOMM from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 3rd. Wells Fargo & Company lowered their price objective on QUALCOMM from $185.00 to $150.00 in a research report on Thursday, April 28th. Sanford C. Bernstein boosted their price target on QUALCOMM from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, February 3rd. Raymond James boosted their price target on QUALCOMM from $190.00 to $222.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 3rd. Finally, Zacks Investment Research lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $155.00 price target on the stock. in a research note on Wednesday, April 6th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $194.77.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in QUALCOMM by 1.5% in the first quarter. Vanguard Group Inc. now owns 105,592,786 shares of the wireless technology company’s stock valued at $16,136,689,000 after purchasing an additional 1,570,961 shares during the last quarter. BlackRock Inc. increased its holdings in shares of QUALCOMM by 0.8% in the first quarter. BlackRock Inc. now owns 82,022,847 shares of the wireless technology company’s stock worth $12,534,730,000 after acquiring an additional 643,310 shares in the last quarter. State Street Corp increased its holdings in shares of QUALCOMM by 3.3% in the fourth quarter. State Street Corp now owns 49,174,315 shares of the wireless technology company’s stock worth $8,992,507,000 after acquiring an additional 1,553,359 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of QUALCOMM by 10.6% in the fourth quarter. Alliancebernstein L.P. now owns 20,174,284 shares of the wireless technology company’s stock worth $3,689,271,000 after acquiring an additional 1,934,339 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 18,698,509 shares of the wireless technology company’s stock worth $3,410,285,000 after acquiring an additional 265,522 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of QCOM traded up $3.16 on Friday, reaching $134.93. 9,276,558 shares of the stock traded hands, compared to its average volume of 10,740,972. The firm has a market cap of $151.12 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 0.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.27. QUALCOMM has a 12 month low of $122.17 and a 12 month high of $193.58. The stock’s 50-day moving average price is $144.81 and its 200-day moving average price is $163.33.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Thursday, June 2nd will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Wednesday, June 1st. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.68. QUALCOMM’s dividend payout ratio is 27.84%.

About QUALCOMM (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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