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Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know
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Qualcomm (QCOM - Free Report) closed at $76.85 in the latest trading session, marking a +1.13% move from the prior day. This change outpaced the S&P 500's 0.58% gain on the day. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 1.66%.
Heading into today, shares of the chipmaker had gained 24.19% over the past month, outpacing the Computer and Technology sector's gain of 4.46% and the S&P 500's gain of 3.15% in that time.
QCOM will be looking to display strength as it nears its next earnings release, which is expected to be April 29, 2020. The company is expected to report EPS of $0.80, up 3.9% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.09 billion, up 2.24% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $3.83 per share and revenue of $20.85 billion. These results would represent year-over-year changes of +8.19% and -14.11%, respectively.
Any recent changes to analyst estimates for QCOM should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 17.39% lower. QCOM currently has a Zacks Rank of #3 (Hold).
Digging into valuation, QCOM currently has a Forward P/E ratio of 19.84. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 19.84.
We can also see that QCOM currently has a PEG ratio of 1.05. 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. The Wireless Equipment was holding an average PEG ratio of 1.66 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know
Qualcomm (QCOM - Free Report) closed at $76.85 in the latest trading session, marking a +1.13% move from the prior day. This change outpaced the S&P 500's 0.58% gain on the day. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 1.66%.
Heading into today, shares of the chipmaker had gained 24.19% over the past month, outpacing the Computer and Technology sector's gain of 4.46% and the S&P 500's gain of 3.15% in that time.
QCOM will be looking to display strength as it nears its next earnings release, which is expected to be April 29, 2020. The company is expected to report EPS of $0.80, up 3.9% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.09 billion, up 2.24% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $3.83 per share and revenue of $20.85 billion. These results would represent year-over-year changes of +8.19% and -14.11%, respectively.
Any recent changes to analyst estimates for QCOM should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 17.39% lower. QCOM currently has a Zacks Rank of #3 (Hold).
Digging into valuation, QCOM currently has a Forward P/E ratio of 19.84. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 19.84.
We can also see that QCOM currently has a PEG ratio of 1.05. 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. The Wireless Equipment was holding an average PEG ratio of 1.66 at yesterday's closing price.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.