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Qualcomm (QCOM) Stock Moves -0.2%: What You Should Know
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In the latest trading session, Qualcomm (QCOM - Free Report) closed at $182.26, marking a -0.2% move from the previous day. This change was narrower than the S&P 500's 0.72% loss on the day.
Coming into today, shares of the chipmaker had gained 14.29% in the past month. In that same time, the Computer and Technology sector lost 0.64%, while the S&P 500 gained 0.11%.
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 $3.01, up 38.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.42 billion, up 26.51% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.49 per share and revenue of $39.29 billion, which would represent changes of +22.83% and +17.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Qualcomm. Recent revisions tend to reflect the latest near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.42% higher within the past month. Qualcomm is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Qualcomm is currently trading at a Forward P/E ratio of 17.41. Its industry sports an average Forward P/E of 18.92, so we one might conclude that Qualcomm is trading at a discount comparatively.
It is also worth noting that QCOM currently has a PEG ratio of 1.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Qualcomm (QCOM) Stock Moves -0.2%: What You Should Know
In the latest trading session, Qualcomm (QCOM - Free Report) closed at $182.26, marking a -0.2% move from the previous day. This change was narrower than the S&P 500's 0.72% loss on the day.
Coming into today, shares of the chipmaker had gained 14.29% in the past month. In that same time, the Computer and Technology sector lost 0.64%, while the S&P 500 gained 0.11%.
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 $3.01, up 38.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.42 billion, up 26.51% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.49 per share and revenue of $39.29 billion, which would represent changes of +22.83% and +17.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Qualcomm. Recent revisions tend to reflect the latest near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.42% higher within the past month. Qualcomm is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Qualcomm is currently trading at a Forward P/E ratio of 17.41. Its industry sports an average Forward P/E of 18.92, so we one might conclude that Qualcomm is trading at a discount comparatively.
It is also worth noting that QCOM currently has a PEG ratio of 1.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Wireless Equipment stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.
The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.