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Qualcomm (QCOM) Stock Moves -0.56%: What You Should Know
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Qualcomm (QCOM - Free Report) ended the recent trading session at $151.94, demonstrating a -0.56% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.91% for the day. Elsewhere, the Dow lost 1.5%, while the tech-heavy Nasdaq lost 1.96%.
Heading into today, shares of the chipmaker had lost 10.27% over the past month, outpacing the Computer and Technology sector's loss of 10.57% and lagging the S&P 500's loss of 7.38% in that time.
Market participants will be closely following the financial results of Qualcomm in its upcoming release. The company is forecasted to report an EPS of $2.79, showcasing a 14.34% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $10.59 billion, indicating a 12.82% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.76 per share and a revenue of $42.92 billion, representing changes of +15.07% and +10.17%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Qualcomm. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.59% higher. As of now, Qualcomm holds a Zacks Rank of #3 (Hold).
Looking at valuation, Qualcomm is presently trading at a Forward P/E ratio of 12.99. This valuation marks a discount compared to its industry's average Forward P/E of 25.7.
Investors should also note that QCOM has a PEG ratio of 1.41 right now. 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 average PEG ratio for the Electronics - Semiconductors industry stood at 1.56 at the close of the market yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Qualcomm (QCOM) Stock Moves -0.56%: What You Should Know
Qualcomm (QCOM - Free Report) ended the recent trading session at $151.94, demonstrating a -0.56% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.91% for the day. Elsewhere, the Dow lost 1.5%, while the tech-heavy Nasdaq lost 1.96%.
Heading into today, shares of the chipmaker had lost 10.27% over the past month, outpacing the Computer and Technology sector's loss of 10.57% and lagging the S&P 500's loss of 7.38% in that time.
Market participants will be closely following the financial results of Qualcomm in its upcoming release. The company is forecasted to report an EPS of $2.79, showcasing a 14.34% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $10.59 billion, indicating a 12.82% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.76 per share and a revenue of $42.92 billion, representing changes of +15.07% and +10.17%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Qualcomm. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.59% higher. As of now, Qualcomm holds a Zacks Rank of #3 (Hold).
Looking at valuation, Qualcomm is presently trading at a Forward P/E ratio of 12.99. This valuation marks a discount compared to its industry's average Forward P/E of 25.7.
Investors should also note that QCOM has a PEG ratio of 1.41 right now. 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 average PEG ratio for the Electronics - Semiconductors industry stood at 1.56 at the close of the market yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.