Stock Update (NASDAQ:QCOM): Qualcomm (QCOM) Stock Advances Ahead of Upcoming Earnings Release

[at TheStreet] – Qualcomm (QCOM) stock is gaining before the company reports its fiscal 2016 first quarter financial results on Wednesday after the market close. Read more on this. QUALCOMM Incorporated (QCOM) , valued at $72.53B, opened this morning at $47.61. Looking at today’s market, QCOM one day range is $47.52 to $48.85 with the price of the stock fluctuating between $44.39 to $74.09 over the last 52 weeks. QCOM shares are currently priced at 11.36x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 10.47x forward p/e ratio. And for income investors, the company pays shareholders $1.92 per share annually in dividends, yielding 3.99%. Consensus earnings for the current quarter by the 30 sell-side analysts covering the stock is an estimate of $0.90 per share, which would be $0.44 worse than the year-ago quarter and a $0.18 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $4.19, which would be a $0.47 worse when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.69 Billion. If reported, that would be a 19.86% decrease over the year-ago quarter. More recently, Susquehanna upgraded QCOM from Neutral to Positive (Jan 13, 2016). Previously, JP Morgan upgraded QCOM from Neutral to Overweight. When considering if perhaps the stock is under or overvalued, the average price target is $61.83, which is 29.87% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Stock Update (NASDAQ:QCOM): Qualcomm Schedules First Quarter Fiscal 2016 Earnings Release and Conference Call Company Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm Schedules Fourth Quarter and Fiscal 2015 Earnings Release and Conference Call Market Update (NASDAQ:QCOM): QUALCOMM (QCOM) Stock Advances After Unveiling New Drone Platform