Credit Suisse Has Negative Earnings Outlook Update for QUALCOMM (QCOM)

By admin | 6 years ago

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.

About the author