Credit Suisse Has Negative Earnings Outlook Update for QUALCOMM (QCOM)
Credit Suisse (NYSE: CS) lowered their EPS estimates on shares of QUALCOMM (NASDAQ: QCOM) in a research note issued on Friday. The firm currently has an “outperform” rating and a $75.00 price target on the company’s shares.
A number of other firms have also recently commented on QCOM. Analysts at Zacks downgraded shares of QUALCOMM from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, May 9th. They now have a $66.00 price target on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of QUALCOMM in a research note to investors on Wednesday, May 2nd. Finally, analysts at Macquarie downgraded shares of QUALCOMM from a “positive” rating to a “neutral” rating in a research note to investors on Tuesday, May 1st.
Shares of QUALCOMM traded down 0.22% during mid-day trading on Friday, hitting $61.727. QUALCOMM has a 52 week low of $45.98 and a 52 week high of $68.87. The company has a market cap of $105.8 billion and a P/E ratio of 18.64.
QUALCOMM last announced its earnings results on Wednesday, April 18th. The company reported $1.01 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.96 by $0.05. QUALCOMM’s revenue was up 27.7% compared to the same quarter last year. On average, analysts predict that QUALCOMM will post $0.91 earnings per share next quarter.
QUALCOMM Incorporated (Qualcomm) designs, manufactures and markets digital wireless telecommunications products and services based on its code division multiple access (CDMA) technology and other technologies.