Wall Street analysts expect QUALCOMM, Inc. (NASDAQ:QCOM) to announce earnings per share (EPS) of $0.68 for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for QUALCOMM’s earnings, with estimates ranging from $0.66 to $0.70. QUALCOMM reported earnings per share of $1.03 during the same quarter last year, which would suggest a negative year-over-year growth rate of 34%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, July 19th.
According to Zacks, analysts expect that QUALCOMM will report full year earnings of $3.85 per share for the current financial year, with EPS estimates ranging from $3.51 to $4.24. For the next financial year, analysts expect that the business will post earnings of $3.48 per share, with EPS estimates ranging from $2.84 to $4.11. 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:QCOM) last posted its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.29. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. QUALCOMM’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share.
QCOM has been the subject of several research reports. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of QUALCOMM in a research note on Monday, January 30th. CLSA downgraded QUALCOMM from a “buy” rating to an “underperform” rating and cut their price target for the company from $80.00 to $60.00 in a research note on Monday, January 23rd. Wells Fargo & Co reiterated an “outperform” rating and set a $75.00 price target (down previously from $80.00) on shares of QUALCOMM in a research note on Saturday, January 28th. Citigroup Inc set a $70.00 price target on QUALCOMM and gave the company a “hold” rating in a research note on Wednesday, January 25th. Finally, Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $63.67.
QUALCOMM (NASDAQ:QCOM) traded up 0.6873% on Thursday, hitting $54.9954. The stock had a trading volume of 4,790,392 shares. The stock has a market capitalization of $81.25 billion, a price-to-earnings ratio of 18.3257 and a beta of 1.31. QUALCOMM has a 52 week low of $50.38 and a 52 week high of $71.62. The company has a 50-day moving average price of $55.23 and a 200-day moving average price of $60.89.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be paid a $0.57 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.53. This represents a $2.28 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Friday, May 26th. QUALCOMM’s dividend payout ratio is presently 64.63%.
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In related news, EVP James H. Thompson sold 25,000 shares of the stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $52.53, for a total value of $1,313,250.00. Following the completion of the transaction, the executive vice president now directly owns 76,246 shares of the company’s stock, valued at $4,005,202.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Leavell Investment Management Inc. increased its position in shares of QUALCOMM by 14.9% in the third quarter. Leavell Investment Management Inc. now owns 15,617 shares of the wireless technology company’s stock worth $1,070,000 after buying an additional 2,027 shares in the last quarter. New Century Investment Management Inc. acquired a new position in shares of QUALCOMM during the third quarter worth $349,000. Train Babcock Advisors LLC acquired a new position in shares of QUALCOMM during the third quarter worth $206,000. Moreno Evelyn V acquired a new position in shares of QUALCOMM during the third quarter worth $578,000. Finally, Cheyne Capital Management UK LLP acquired a new position in shares of QUALCOMM during the third quarter worth $1,373,000. 79.28% of the stock is owned by institutional investors and hedge funds.
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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