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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 $121.20, moving +1.69% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Coming into today, shares of the chipmaker had lost 12.76% in the past month. In that same time, the Computer and Technology sector lost 4.64%, while the S&P 500 lost 4.07%.
Wall Street will be looking for positivity from Qualcomm as it approaches its next earnings report date. The company is expected to report EPS of $2.15, down 33.02% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.06 billion, down 18.82% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.51 per share and revenue of $37.99 billion. These totals would mark changes of -24.1% and -14.06%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Qualcomm. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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 has moved 1.55% lower. Qualcomm is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Qualcomm is holding a Forward P/E ratio of 12.53. This represents a discount compared to its industry's average Forward P/E of 13.17.
We can also see that QCOM currently has a PEG ratio of 0.8. 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 2.43 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow QCOM in the coming trading sessions, be sure to utilize 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 $121.20, moving +1.69% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Coming into today, shares of the chipmaker had lost 12.76% in the past month. In that same time, the Computer and Technology sector lost 4.64%, while the S&P 500 lost 4.07%.
Wall Street will be looking for positivity from Qualcomm as it approaches its next earnings report date. The company is expected to report EPS of $2.15, down 33.02% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.06 billion, down 18.82% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.51 per share and revenue of $37.99 billion. These totals would mark changes of -24.1% and -14.06%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Qualcomm. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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 has moved 1.55% lower. Qualcomm is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Qualcomm is holding a Forward P/E ratio of 12.53. This represents a discount compared to its industry's average Forward P/E of 13.17.
We can also see that QCOM currently has a PEG ratio of 0.8. 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 2.43 as of yesterday's close.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow QCOM in the coming trading sessions, be sure to utilize Zacks.com.