Analysts Anticipate QUALCOMM, Inc. (QCOM) Will Announce Earnings of $0.82 Per Share

Brokerages expect QUALCOMM, Inc. (NASDAQ:QCOM) to post earnings per share of $0.82 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for QUALCOMM’s earnings, with estimates ranging from $0.78 to $0.87. QUALCOMM reported earnings of $0.92 per share during the same quarter last year, which indicates a negative year over year growth rate of 10.9%. The company is scheduled to issue its next earnings results on Wednesday, November 7th.

On average, analysts expect that QUALCOMM will report full year earnings of $3.61 per share for the current financial year, with EPS estimates ranging from $3.57 to $3.66. For the next year, analysts forecast that the business will post earnings of $3.54 per share, with EPS estimates ranging from $3.33 to $3.78. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.30. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the firm posted $0.83 EPS. The business’s revenue was up 5.7% compared to the same quarter last year.

Several research analysts have weighed in on QCOM shares. BidaskClub lowered QUALCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Deutsche Bank upped their target price on QUALCOMM to $60.00 and gave the stock a “hold” rating in a research report on Monday, July 23rd. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Cowen increased their price objective on QUALCOMM from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Thursday, July 26th. Finally, Stifel Nicolaus increased their price objective on QUALCOMM from $54.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $71.02.

In related news, EVP Alexander H. Rogers sold 828 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $63.40, for a total transaction of $52,495.20. Following the completion of the sale, the executive vice president now owns 7,170 shares in the company, valued at approximately $454,578. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 789 shares of the stock in a transaction that occurred on Wednesday, June 27th. The shares were sold at an average price of $56.55, for a total value of $44,617.95. Following the sale, the executive vice president now owns 7,998 shares of the company’s stock, valued at approximately $452,286.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,923 shares of company stock valued at $185,098. 0.24% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Squar Milner Financial Services LLC bought a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $106,000. Aristotle Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $105,000. Institutional & Family Asset Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $121,000. Point72 Asia Hong Kong Ltd lifted its position in shares of QUALCOMM by 318.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,484 shares of the wireless technology company’s stock worth $138,000 after acquiring an additional 1,891 shares during the period. Finally, Private Capital Group LLC lifted its position in shares of QUALCOMM by 83.2% in the 1st quarter. Private Capital Group LLC now owns 2,828 shares of the wireless technology company’s stock worth $157,000 after acquiring an additional 1,284 shares during the period. Hedge funds and other institutional investors own 77.35% of the company’s stock.

QCOM stock traded down $0.12 during mid-day trading on Monday, hitting $73.58. The stock had a trading volume of 15,448,900 shares, compared to its average volume of 11,666,336. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62. QUALCOMM has a 1-year low of $48.56 and a 1-year high of $76.50. The firm has a market cap of $108.27 billion, a P/E ratio of 19.44, a PEG ratio of 2.18 and a beta of 1.66.

QUALCOMM declared that its Board of Directors has approved a share buyback plan on Thursday, July 26th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to buy up to 34.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 5th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Tuesday, September 4th. QUALCOMM’s dividend payout ratio is 65.61%.

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.

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