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Qualcomm (QCOM) Stock Sinks As Market Gains: What You Should Know
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Qualcomm (QCOM - Free Report) closed the most recent trading day at $129.98, moving -1.34% from the previous trading session. This change lagged the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.9%, while the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the chipmaker had lost 9.49% over the past month, lagging the Computer and Technology sector's loss of 5.38% and the S&P 500's gain of 0.71% 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 April 28, 2021. In that report, analysts expect QCOM to post earnings of $1.58 per share. This would mark year-over-year growth of 79.55%. Our most recent consensus estimate is calling for quarterly revenue of $7.63 billion, up 46.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.35 per share and revenue of $31.09 billion, which would represent changes of +75.42% and +32.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for QCOM. 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. 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 remained stagnant. QCOM is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that QCOM has a Forward P/E ratio of 17.93 right now. For comparison, its industry has an average Forward P/E of 20.69, which means QCOM is trading at a discount to the group.
Investors should also note that QCOM has a PEG ratio of 0.9 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 Wireless Equipment industry currently had an average PEG ratio of 1.75 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 116, which puts it in the top 46% 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 the most recent trading day at $129.98, moving -1.34% from the previous trading session. This change lagged the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.9%, while the tech-heavy Nasdaq lost 0.59%.
Heading into today, shares of the chipmaker had lost 9.49% over the past month, lagging the Computer and Technology sector's loss of 5.38% and the S&P 500's gain of 0.71% 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 April 28, 2021. In that report, analysts expect QCOM to post earnings of $1.58 per share. This would mark year-over-year growth of 79.55%. Our most recent consensus estimate is calling for quarterly revenue of $7.63 billion, up 46.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.35 per share and revenue of $31.09 billion, which would represent changes of +75.42% and +32.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for QCOM. 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. 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 remained stagnant. QCOM is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that QCOM has a Forward P/E ratio of 17.93 right now. For comparison, its industry has an average Forward P/E of 20.69, which means QCOM is trading at a discount to the group.
Investors should also note that QCOM has a PEG ratio of 0.9 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 Wireless Equipment industry currently had an average PEG ratio of 1.75 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 116, which puts it in the top 46% 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.