Brokerages Anticipate QUALCOMM, Inc. (QCOM) Will Announce Earnings of $0.71 Per Share

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Brokerages forecast that QUALCOMM, Inc. (NASDAQ:QCOM) will announce earnings of $0.71 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for QUALCOMM’s earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.76. QUALCOMM reported earnings per share of $0.80 in the same quarter last year, which suggests a negative year over year growth rate of 11.3%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 24th.

According to Zacks, analysts expect that QUALCOMM will report full year earnings of $3.86 per share for the current financial year, with EPS estimates ranging from $3.41 to $4.17. For the next year, analysts forecast that the firm will post earnings of $4.46 per share, with EPS estimates ranging from $3.51 to $5.67. Zacks’ EPS averages are an average based on a survey of research analysts that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s quarterly revenue was down 21.3% on a year-over-year basis.

QCOM has been the topic of a number of research analyst reports. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Barclays reissued a “buy” rating and issued a $70.00 price target on shares of QUALCOMM in a report on Friday, January 18th. Mizuho lowered their price target on QUALCOMM from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, January 31st. UBS Group reissued a “neutral” rating and issued a $55.00 price target (down from $64.00) on shares of QUALCOMM in a report on Thursday, January 31st. Finally, ValuEngine cut QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Thirteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $66.00.

QCOM stock opened at $55.40 on Friday. QUALCOMM has a twelve month low of $48.56 and a twelve month high of $76.50. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54. The stock has a market cap of $66.37 billion, a PE ratio of 17.37, a P/E/G ratio of 1.73 and a beta of 1.21.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Wednesday, March 6th. QUALCOMM’s dividend payout ratio is currently 77.74%.

In other news, EVP James H. Thompson sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the transaction, the executive vice president now owns 62,301 shares of the company’s stock, valued at approximately $3,161,775.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

A number of institutional investors have recently made changes to their positions in QCOM. Lavaca Capital LLC bought a new position in QUALCOMM in the 4th quarter valued at $25,000. Csenge Advisory Group bought a new position in QUALCOMM in the 3rd quarter valued at $28,000. Transamerica Financial Advisors Inc. grew its position in QUALCOMM by 688.5% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 537 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in QUALCOMM in the 4th quarter valued at $36,000. Finally, Pearl River Capital LLC bought a new position in QUALCOMM in the 4th quarter valued at $40,000. 82.67% of the stock is currently owned by institutional investors.

About QUALCOMM

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: Special Dividends

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