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Qualcomm (QCOM) Dips More Than Broader Market: What You Should Know
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Qualcomm (QCOM - Free Report) ended the recent trading session at $144.63, demonstrating a -0.84% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.06%, while the tech-heavy Nasdaq depreciated by 0.56%.
The chipmaker's stock has climbed by 13.03% in the past month, exceeding the Computer and Technology sector's gain of 4.68% and the S&P 500's gain of 5.24%.
Market participants will be closely following the financial results of Qualcomm in its upcoming release. The company is forecasted to report an EPS of $2.37, showcasing no movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $9.49 billion, reflecting a 0.36% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.11 per share and a revenue of $37.38 billion, signifying shifts of +8.07% and +4.37%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Qualcomm. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. Qualcomm is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Qualcomm is presently trading at a Forward P/E ratio of 16. This indicates a premium in contrast to its industry's Forward P/E of 14.42.
One should further note that QCOM currently holds a PEG ratio of 1.28. 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. The Wireless Equipment industry had an average PEG ratio of 1.29 as trading concluded yesterday.
The Wireless Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Dips More Than Broader Market: What You Should Know
Qualcomm (QCOM - Free Report) ended the recent trading session at $144.63, demonstrating a -0.84% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.06%, while the tech-heavy Nasdaq depreciated by 0.56%.
The chipmaker's stock has climbed by 13.03% in the past month, exceeding the Computer and Technology sector's gain of 4.68% and the S&P 500's gain of 5.24%.
Market participants will be closely following the financial results of Qualcomm in its upcoming release. The company is forecasted to report an EPS of $2.37, showcasing no movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $9.49 billion, reflecting a 0.36% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.11 per share and a revenue of $37.38 billion, signifying shifts of +8.07% and +4.37%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Qualcomm. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. Qualcomm is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Qualcomm is presently trading at a Forward P/E ratio of 16. This indicates a premium in contrast to its industry's Forward P/E of 14.42.
One should further note that QCOM currently holds a PEG ratio of 1.28. 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. The Wireless Equipment industry had an average PEG ratio of 1.29 as trading concluded yesterday.
The Wireless Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.