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QUALCOMM Incorporated (NASDAQ:QCOM) Expected to Post Earnings of $3.01 Per Share

Analysts predict that QUALCOMM Incorporated (NASDAQ:QCOM) will announce earnings of $3.01 per share for the current quarter, Zacks Investment Research reported. Seven analysts have estimated QUALCOMM’s earnings, with the highest EPS estimate coming in at $3.05 and the lowest estimate at $2.95. QUALCOMM posted earnings of $2.17 per share in the year-ago quarter, which would indicate positive year-over-year growth of 38.7%. The company will publish its next earnings results on Wednesday, February 2.

On average, analysts expect QUALCOMM to report full-year earnings of $10.49 per share for the current fiscal year, with estimates of earnings per share ranging from $10.20 to $10.72. For the next fiscal year, analysts expect the company to reach earnings of $11.21 per share, with earnings per share estimates of $10.20 to $12.15. Zacks’ EPS calculations are an average based on a survey of sales-side research firms that track QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last released its quarterly results on Wednesday, November 3. The wireless technology company reported $2.55 earnings per share (EPS) for the quarter, beating analyst consensus estimates of $2.06 by $0.49. QUALCOMM had a return on equity of 104.16% and a net margin of 26.94%. In the same quarter of the previous year, the company had earnings per share of $1.23.

A number of stock research analysts have weighed in on the company. Wells Fargo & Company raised their target price on QUALCOMM from $138.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, Nov. 4. Susquehanna Bancshares raised its price target on QUALCOMM from $157.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, Nov. 17. Piper Sandler raised his price target on QUALCOMM from $190.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, Nov. 17. Canaccord Genuity reiterated a “buy” assessment in a research note on Thursday, Aug. 12 and set a price target of $225.00 (vs. $200.00) for shares of QUALCOMM. Finally, on Wednesday, November 3, Summit Insights downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note. Twelve equity research analysts have rated the stock with a hold rating, fourteen have issued a buy recommendation and one has issued a strong buy recommendation for the company’s stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Buy” and an average target price of $181.50.

In other QUALCOMM news, CLA Erin L. Polek sold 2,847 shares of the firm in a transaction dated Monday, November 22. The stock sold at an average price of $180.98, for a total trade of $515,250.06. The sale was disclosed in a filing with the SEC, which can be accessed at this hyperlink. 0.14% of the shares are owned by company insiders.

A number of major investors have recently made changes to their positions in the stock. Cambridge Trust Co. increased its position in QUALCOMM in the third quarter by 5.6%. Cambridge Trust Co. now owns 6,797 shares of the wireless technology company worth $877,000 after purchasing an additional 360 shares during the period. Fortis Advisors LLC acquired a new stake in QUALCOMM shares worth approximately $71,000 during the third quarter. Wealthsource Partners LLC acquired a new equity stake in QUALCOMM worth approximately $1,027,000 during the 3rd quarter. Consolidated Planning Corp. acquired a new stake in QUALCOMM stock worth approximately $64,000 during the 3rd quarter. Finally, Jeppson Wealth Management LLC increased its exposure to shares of QUALCOMM by 9.3% during the 3rd quarter. Jeppson Wealth Management LLC now owns 10,029 shares of the wireless technology company worth $1,293,000, having acquired an additional 853 shares during the period. Hedge funds and other institutional investors own 71.66% of the company’s stock.

NASDAQ QCOM opened at $180.71 on Thursday. The stock has a market cap of $202.40 billion, a PE ratio of 22.96, a P/E/G ratio of 0.99 and a beta of 1.31. QUALCOMM has a 1-year low of $122.17 and a single-year high of $188.77. The company has a 50-day simple moving average of $143.50 and a two-hundred-day simple moving average of $141.00. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.68 and a quick ratio of 1.41.

QUALCOMM announced that on Tuesday, October 12, the board approved a share repurchase plan that would allow the company to repurchase $10.00 billion in outstanding shares. With this buyback authorization, the wireless technology company can buy up to 7.2% of its shares through open market purchases. Share repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 16. Shareholders with a record on Thursday, December 2, will receive a dividend of $0.68. This represents an annualized dividend of $2.72 and a yield of 1.51%. The ex-dividend date is Wednesday, December 1. QUALCOMM’s dividend payout ratio is currently 34.56%.

About QUALCOMM

QUALCOMM, Inc is engaged in the development, design and delivery of digital telecommunications products and services. It operates through the following 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 technologies for use in voice and data communications, networking, application processing, multimedia and products for global positioning systems.

Further reading: QQQ ETF

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This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story has been reviewed by the editors of MarketBeat prior to publication. Send your questions or comments about this story to [email protected]

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