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Qualcomm (QCOM) Dips More Than Broader Markets: What You Should Know
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Qualcomm (QCOM - Free Report) closed at $91.33 in the latest trading session, marking a -1.28% move from the prior day. This move lagged the S&P 500's daily loss of 0.94%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 2.13%.
Prior to today's trading, shares of the chipmaker had gained 10.1% over the past month. This has outpaced the Computer and Technology sector's gain of 5.46% and the S&P 500's gain of 0.02% in that time.
Wall Street will be looking for positivity from QCOM as it approaches its next earnings report date. This is expected to be July 29, 2020. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $4.79 billion, down 50.26% from the year-ago period.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $3.65 per share and revenue of $20.81 billion. These results would represent year-over-year changes of +3.11% and -14.28%, respectively.
It is also important to note the recent changes to analyst estimates for QCOM. Recent revisions tend to reflect the latest near-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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QCOM currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, QCOM is holding a Forward P/E ratio of 25.33. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 25.33.
Investors should also note that QCOM has a PEG ratio of 1.44 right now. 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. QCOM's industry had an average PEG ratio of 1.89 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 86, putting it in the top 34% 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.
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
Qualcomm (QCOM - Free Report) closed at $91.33 in the latest trading session, marking a -1.28% move from the prior day. This move lagged the S&P 500's daily loss of 0.94%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 2.13%.
Prior to today's trading, shares of the chipmaker had gained 10.1% over the past month. This has outpaced the Computer and Technology sector's gain of 5.46% and the S&P 500's gain of 0.02% in that time.
Wall Street will be looking for positivity from QCOM as it approaches its next earnings report date. This is expected to be July 29, 2020. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $4.79 billion, down 50.26% from the year-ago period.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $3.65 per share and revenue of $20.81 billion. These results would represent year-over-year changes of +3.11% and -14.28%, respectively.
It is also important to note the recent changes to analyst estimates for QCOM. Recent revisions tend to reflect the latest near-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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. QCOM currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, QCOM is holding a Forward P/E ratio of 25.33. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 25.33.
Investors should also note that QCOM has a PEG ratio of 1.44 right now. 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. QCOM's industry had an average PEG ratio of 1.89 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 86, putting it in the top 34% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.