QUALCOMM Incorporated (QCOM) Expected to Post Earnings of $0.90 Per Share

Brokerages expect that QUALCOMM Incorporated (NASDAQ:QCOM) will post earnings of $0.90 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for QUALCOMM’s earnings, with the highest EPS estimate coming in at $0.93 and the lowest estimate coming in at $0.89. QUALCOMM reported earnings of $1.19 per share during the same quarter last year, which indicates a negative year over year growth rate of 24.4%. The company is scheduled to issue its next quarterly earnings report on Wednesday, January 24th.

According to Zacks, analysts expect that QUALCOMM will report full-year earnings of $3.60 per share for the current financial year, with EPS estimates ranging from $3.34 to $3.75. For the next year, analysts expect that the firm will report earnings of $3.85 per share, with EPS estimates ranging from $3.43 to $4.34. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover QUALCOMM.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis.

A number of analysts have weighed in on QCOM shares. Canaccord Genuity raised their price objective on shares of QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Finally, UBS cut their price objective on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company. QUALCOMM has a consensus rating of “Hold” and an average price target of $66.02.

QUALCOMM (NASDAQ QCOM) traded up $0.06 during mid-day trading on Friday, reaching $64.76. 14,158,271 shares of the company’s stock were exchanged, compared to its average volume of 11,280,048. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM has a 12 month low of $48.92 and a 12 month high of $69.28. The firm has a market capitalization of $95,466.93, a PE ratio of 17.13, a P/E/G ratio of 1.84 and a beta of 1.39.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 29th were given a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.52%. QUALCOMM’s dividend payout ratio is presently 138.18%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold a total of 29,427 shares of company stock worth $1,827,995 over the last quarter. Insiders own 0.17% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hellman Jordan Management Co. Inc. MA purchased a new position in QUALCOMM in the 3rd quarter worth approximately $960,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in QUALCOMM by 2.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after acquiring an additional 498,324 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in QUALCOMM in the 3rd quarter worth approximately $2,740,000. Public Employees Retirement System of Ohio boosted its holdings in QUALCOMM by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,017,216 shares of the wireless technology company’s stock worth $52,732,000 after acquiring an additional 3,839 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in QUALCOMM in the 3rd quarter worth approximately $536,000. 76.66% of the stock is owned by institutional investors.

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About QUALCOMM

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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