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Qualcomm (QCOM) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Qualcomm (QCOM - Free Report) closed at $56.66, marking a -0.28% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the chipmaker had gained 8.54% over the past month, outpacing the Computer and Technology sector's gain of 3.22% and the S&P 500's gain of 0.52% in that time.
Wall Street will be looking for positivity from QCOM as it approaches its next earnings report date. In that report, analysts expect QCOM to post earnings of $0.71 per share. This would mark a year-over-year decline of 11.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.81 billion, down 8.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.86 per share and revenue of $20.31 billion, which would represent changes of +4.61% and -10.66%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for QCOM. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, QCOM is holding a Forward P/E ratio of 14.71. This valuation marks a discount compared to its industry's average Forward P/E of 22.13.
Also, we should mention that QCOM has a PEG ratio of 1.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Qualcomm (QCOM) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Qualcomm (QCOM - Free Report) closed at $56.66, marking a -0.28% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the chipmaker had gained 8.54% over the past month, outpacing the Computer and Technology sector's gain of 3.22% and the S&P 500's gain of 0.52% in that time.
Wall Street will be looking for positivity from QCOM as it approaches its next earnings report date. In that report, analysts expect QCOM to post earnings of $0.71 per share. This would mark a year-over-year decline of 11.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.81 billion, down 8.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.86 per share and revenue of $20.31 billion, which would represent changes of +4.61% and -10.66%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for QCOM. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, QCOM is holding a Forward P/E ratio of 14.71. This valuation marks a discount compared to its industry's average Forward P/E of 22.13.
Also, we should mention that QCOM has a PEG ratio of 1.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.