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Qualcomm (QCOM) Stock Sinks As Market Gains: What You Should Know
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Qualcomm (QCOM - Free Report) closed at $87.83 in the latest trading session, marking a -1.37% move from the prior day. This move lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.2%.
Prior to today's trading, shares of the chipmaker had lost 1.58% over the past month. This has lagged the Computer and Technology sector's gain of 2.57% and the S&P 500's gain of 2.67% in that time.
QCOM will be looking to display strength as it nears its next earnings release. In that report, analysts expect QCOM to post earnings of $0.85 per share. This would mark a year-over-year decline of 29.17%. Meanwhile, our latest consensus estimate is calling for revenue of $4.83 billion, down 0.35% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.12 per share and revenue of $21.88 billion. These totals would mark changes of +16.38% and -9.84%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for QCOM. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QCOM is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, QCOM is currently trading at a Forward P/E ratio of 21.59. Its industry sports an average Forward P/E of 21.59, so we one might conclude that QCOM is trading at a no noticeable deviation comparatively.
Also, we should mention that QCOM has a PEG ratio of 1.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Wireless Equipment stocks are, on average, holding a PEG ratio of 3.46 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% 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) Stock Sinks As Market Gains: What You Should Know
Qualcomm (QCOM - Free Report) closed at $87.83 in the latest trading session, marking a -1.37% move from the prior day. This move lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.2%.
Prior to today's trading, shares of the chipmaker had lost 1.58% over the past month. This has lagged the Computer and Technology sector's gain of 2.57% and the S&P 500's gain of 2.67% in that time.
QCOM will be looking to display strength as it nears its next earnings release. In that report, analysts expect QCOM to post earnings of $0.85 per share. This would mark a year-over-year decline of 29.17%. Meanwhile, our latest consensus estimate is calling for revenue of $4.83 billion, down 0.35% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.12 per share and revenue of $21.88 billion. These totals would mark changes of +16.38% and -9.84%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for QCOM. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QCOM is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, QCOM is currently trading at a Forward P/E ratio of 21.59. Its industry sports an average Forward P/E of 21.59, so we one might conclude that QCOM is trading at a no noticeable deviation comparatively.
Also, we should mention that QCOM has a PEG ratio of 1.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Wireless Equipment stocks are, on average, holding a PEG ratio of 3.46 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% 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.