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Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know
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Qualcomm (QCOM - Free Report) closed the most recent trading day at $56.83, moving +0.41% from the previous trading session. This change outpaced the S&P 500's 0.37% gain on the day. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 0.34%.
Coming into today, shares of the chipmaker had gained 9.75% in the past month. In that same time, the Computer and Technology sector gained 4.35%, while the S&P 500 gained 1.83%.
Investors will be hoping for strength from QCOM as it approaches its next earnings release. On that day, QCOM is projected to report earnings of $0.71 per share, which would represent a year-over-year decline of 11.25%. Meanwhile, our latest consensus estimate is calling for revenue of $4.81 billion, down 8.6% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $3.86 per share and revenue of $20.31 billion. These results would represent year-over-year changes of +4.61% and -10.66%, respectively.
Investors might also notice recent changes to analyst estimates for QCOM. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.46% lower. QCOM is currently a Zacks Rank #3 (Hold).
Investors should also note QCOM's current valuation metrics, including its Forward P/E ratio of 14.65. This valuation marks a discount compared to its industry's average Forward P/E of 23.63.
It is also worth noting that QCOM currently has a PEG ratio of 1.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless Equipment was holding an average PEG ratio of 2.21 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know
Qualcomm (QCOM - Free Report) closed the most recent trading day at $56.83, moving +0.41% from the previous trading session. This change outpaced the S&P 500's 0.37% gain on the day. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 0.34%.
Coming into today, shares of the chipmaker had gained 9.75% in the past month. In that same time, the Computer and Technology sector gained 4.35%, while the S&P 500 gained 1.83%.
Investors will be hoping for strength from QCOM as it approaches its next earnings release. On that day, QCOM is projected to report earnings of $0.71 per share, which would represent a year-over-year decline of 11.25%. Meanwhile, our latest consensus estimate is calling for revenue of $4.81 billion, down 8.6% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $3.86 per share and revenue of $20.31 billion. These results would represent year-over-year changes of +4.61% and -10.66%, respectively.
Investors might also notice recent changes to analyst estimates for QCOM. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.46% lower. QCOM is currently a Zacks Rank #3 (Hold).
Investors should also note QCOM's current valuation metrics, including its Forward P/E ratio of 14.65. This valuation marks a discount compared to its industry's average Forward P/E of 23.63.
It is also worth noting that QCOM currently has a PEG ratio of 1.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless Equipment was holding an average PEG ratio of 2.21 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.