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Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Qualcomm (QCOM - Free Report) closed at $77.52, marking a +1.91% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.77%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 1.06%.
Heading into today, shares of the chipmaker had gained 14.24% over the past month, outpacing the Computer and Technology sector's gain of 4.12% and the S&P 500's gain of 5.12% in that time.
Investors will be hoping for strength from QCOM as it approaches its next earnings release. The company is expected to report EPS of $0.76, down 24.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.11 billion, down 8.74% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.82 per share and revenue of $20.43 billion, which would represent changes of +3.52% and -10.1%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for QCOM. 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. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. QCOM is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that QCOM has a Forward P/E ratio of 19.92 right now. Its industry sports an average Forward P/E of 24.03, so we one might conclude that QCOM is trading at a discount comparatively.
We can also see that QCOM currently has a PEG ratio of 1.46. 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. QCOM's industry had an average PEG ratio of 2.9 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 29, putting it in the top 12% 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.
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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Qualcomm (QCOM - Free Report) closed at $77.52, marking a +1.91% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.77%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 1.06%.
Heading into today, shares of the chipmaker had gained 14.24% over the past month, outpacing the Computer and Technology sector's gain of 4.12% and the S&P 500's gain of 5.12% in that time.
Investors will be hoping for strength from QCOM as it approaches its next earnings release. The company is expected to report EPS of $0.76, down 24.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.11 billion, down 8.74% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.82 per share and revenue of $20.43 billion, which would represent changes of +3.52% and -10.1%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for QCOM. 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. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. QCOM is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that QCOM has a Forward P/E ratio of 19.92 right now. Its industry sports an average Forward P/E of 24.03, so we one might conclude that QCOM is trading at a discount comparatively.
We can also see that QCOM currently has a PEG ratio of 1.46. 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. QCOM's industry had an average PEG ratio of 2.9 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 29, putting it in the top 12% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.