Zacks: Brokerages Expect QUALCOMM, Inc. (NASDAQ:QCOM) to Post $0.72 EPS

Wall Street brokerages predict that QUALCOMM, Inc. (NASDAQ:QCOM) will announce earnings of $0.72 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for QUALCOMM’s earnings, with estimates ranging from $0.65 to $0.78. QUALCOMM posted earnings of $0.80 per share in the same quarter last year, which would suggest a negative year over year growth rate of 10%. The business is scheduled to issue its next quarterly earnings report on Wednesday, July 29th.

On average, analysts expect that QUALCOMM will report full-year earnings of $3.64 per share for the current financial year, with EPS estimates ranging from $3.50 to $3.88. For the next financial year, analysts anticipate that the business will post earnings of $5.67 per share, with EPS estimates ranging from $4.85 to $6.44. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period last year, the firm posted $0.77 EPS. QUALCOMM’s revenue was up 6.6% on a year-over-year basis.

A number of equities analysts have recently commented on the company. Raymond James lowered their price objective on QUALCOMM from $115.00 to $110.00 and set a “strong-buy” rating for the company in a research report on Monday, April 13th. Cowen increased their target price on QUALCOMM from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Thursday. BidaskClub raised QUALCOMM from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Tigress Financial restated a “buy” rating on shares of QUALCOMM in a report on Friday, April 17th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.57.

QUALCOMM stock traded up $0.70 during trading on Monday, reaching $78.70. The company had a trading volume of 5,471,251 shares, compared to its average volume of 10,017,896. The firm’s 50-day simple moving average is $75.19 and its 200 day simple moving average is $82.06. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.39 and a current ratio of 1.57. The firm has a market capitalization of $87.74 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. QUALCOMM has a 1-year low of $58.00 and a 1-year high of $96.17.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a $0.65 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, June 3rd. This represents a $2.60 annualized dividend and a dividend yield of 3.30%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.

In other QUALCOMM news, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.12% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its stake in QUALCOMM by 10.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,242,063 shares of the wireless technology company’s stock valued at $84,025,000 after acquiring an additional 116,013 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of QUALCOMM by 6.0% during the first quarter. Clearbridge Investments LLC now owns 10,167,014 shares of the wireless technology company’s stock worth $687,798,000 after purchasing an additional 571,593 shares during the period. Cim Investment Mangement Inc. lifted its holdings in shares of QUALCOMM by 3.5% during the first quarter. Cim Investment Mangement Inc. now owns 8,025 shares of the wireless technology company’s stock worth $543,000 after purchasing an additional 274 shares during the period. Heard Capital LLC acquired a new position in shares of QUALCOMM during the first quarter worth $135,000. Finally, APG Asset Management N.V. lifted its holdings in QUALCOMM by 75.8% in the first quarter. APG Asset Management N.V. now owns 1,764,837 shares of the wireless technology company’s stock valued at $119,391,000 after buying an additional 760,900 shares during the period. 76.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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