Qualcomm (QCOM - Free Report) closed the most recent trading day at $86.84, moving +0.14% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.22%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the chipmaker had gained 49.52% in the past month. In that same time, the Computer and Technology sector gained 6.02%, while the S&P 500 gained 4.87%.
Wall Street will be looking for positivity from QCOM as it approaches its next earnings report date. This is expected to be May 1, 2019. On that day, QCOM is projected to report earnings of $0.70 per share, which would represent a year-over-year decline of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $4.80 billion, down 8.67% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $3.83 per share and revenue of $20.38 billion. These results would represent year-over-year changes of +3.79% and -10.34%, respectively.
Any recent changes to analyst estimates for QCOM should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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 2.34% lower. QCOM is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, QCOM currently has a Forward P/E ratio of 22.62. For comparison, its industry has an average Forward P/E of 24.73, which means QCOM is trading at a discount to the group.
Also, we should mention that QCOM has a PEG ratio of 2.3. 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. QCOM's industry had an average PEG ratio of 2.51 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 49, putting it in the top 20% 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.