Published: Fri, April 21, 2017
Economy | By Annette Adams

QUALCOMM Incorporated Earnings Ahead: Quick Glance


A number of other equities analysts have also weighed in on the company. The shares have accelerated in recent weeks, with their price up about 11.79% in the past three months. Royal Bank of Canada reaffirmed a hold rating and set a $60.00 price target on shares of QUALCOMM in a report on Monday, April 3rd. Analysts polled by Thomson Reuters have a current consensus target on company stock of $64.74. Nomura Downgrades the stock to Neutral on 1/23/17 by stationing a price target of $70. This scale runs from 1 to 5 where 1 represents Strong Buy and 5 represents Sell. Finally, Cowen and Company reaffirmed an "outperform" rating and issued a $73.00 price target on shares of QUALCOMM in a report on Wednesday. 2,442,865 shares of the company traded hands.

The stock price of the tech company increased 2.32% to $58.83 per share during the extended trading hours on Wednesday.

If you look at the company's income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, QCOM earned gross profit of 16.05 Billion, in 2015 15.18 Billion gross profit, while in 2016 QUALCOMM Incorporated (QCOM) produced 14.24 Billion profit. The stock has a 50 day moving average of $56.53 and a 200 day moving average of $61.96.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 25th. The San Diego-based chipset manufacturer has just posted the results of their second fiscal quarter for the year, and alongside the $5 Billion in GAAP, the company notes that they also hit $6 Billion in non-GAAP revenues as well as $0.50 in GAAP EPS and $1.34 for non-GAAP EPS or, Earnings Per Share.

Qualcomm forecast current-quarter adjusted profit of $0.90-$1.15 per share and revenue of $5.3 billion-$6.1 billion. That division, which licenses patents essential to mobile communications and collects royalties on almost every smartphone sold, typically brings the majority of Qualcomm's pretax net profit. The firm's revenue for the quarter was up 3.9% on a year-over-year basis.

Net income attributable to the company fell to $749 million, or 50 cents per share, in the second quarter ended March 31, from $1.16 billion, or 78 cents per share, a year earlier. QUALCOMM's dividend payout ratio is now 64.63%.

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Chip maker Qualcomm might be happy with its recent fiscal performance, but a legal stoush with tech giant Apple might affect its profits for the third quarter of 2017. Stockholders of record on Wednesday, March 1st will be issued a $0.53 dividend.

The stock now has its Annual Dividend of $2.12 and an annual Dividend Yield of 4.01 Percent. This is an increase from QUALCOMM's previous quarterly dividend of $0.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The shares were purchased at an average price of $53.99 per share, with a total value of $53,990.00.

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