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Qualcomm (QCOM) Stock Moves -0.24%: What You Should Know September 18, 2024
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In the latest trading session, Qualcomm (QCOM - Free Report) closed at $168.30, marking a -0.24% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.31%.
The chipmaker's stock has dropped by 1.98% in the past month, falling short of the Computer and Technology sector's loss of 1.17% and the S&P 500's gain of 1.57%.
Analysts and investors alike will be keeping a close eye on the performance of Qualcomm in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.56, signifying a 26.73% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $9.9 billion, up 14.67% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $10.03 per share and revenue of $38.6 billion. These results would represent year-over-year changes of +18.98% and +7.78%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Qualcomm. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.29% upward. Qualcomm is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Qualcomm is currently trading at a Forward P/E ratio of 16.82. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 16.82.
One should further note that QCOM currently holds a PEG ratio of 1.47. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Wireless Equipment industry held an average PEG ratio of 2.5.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 20% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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In the latest trading session, Qualcomm (QCOM - Free Report) closed at $168.30, marking a -0.24% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.31%.
The chipmaker's stock has dropped by 1.98% in the past month, falling short of the Computer and Technology sector's loss of 1.17% and the S&P 500's gain of 1.57%.
Analysts and investors alike will be keeping a close eye on the performance of Qualcomm in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.56, signifying a 26.73% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $9.9 billion, up 14.67% from the prior-year quarter.
QCOM's full-year Zacks Consensus Estimates are calling for earnings of $10.03 per share and revenue of $38.6 billion. These results would represent year-over-year changes of +18.98% and +7.78%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Qualcomm. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.29% upward. Qualcomm is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Qualcomm is currently trading at a Forward P/E ratio of 16.82. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 16.82.
One should further note that QCOM currently holds a PEG ratio of 1.47. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Wireless Equipment industry held an average PEG ratio of 2.5.
The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 20% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.