Stock Update (NASDAQ:QCOM): Is Qualcomm at a Turning Point?

[at TheStreet] – When Qualcomm reports earnings Wednesday, investors will be watching to see if management can turn it around. With its stock close to a 52-week low, the company needs it. Read more on this. QUALCOMM Incorporated (QCOM) , valued at $71.74B, started trading this morning at $48.00. During the trading session, QCOM traded between $47.43 to $48.20 and has traded between $44.39 and $74.09 over the past 12 months. QCOM shares are currently priced at 11.58x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 10.47x earnings multiple. And for those looking to make a return holding the stock, 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. The full-year EPS estimate is $4.19, which would be a $0.47 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.69 Billion. If realized, that would be a 19.86% decrease over the year-ago quarter. In terms of ratings, 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 28.81% above where the stock opened this morning. See more in (NASDAQ:QCOM) Similar Articles: Stock Update (NASDAQ:QCOM): Qualcomm (QCOM) Stock Advances Ahead of Upcoming Earnings Release Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – GSK said to be in talks with Qualcomm to form JV – Bloomberg Stock Update (NASDAQ:QCOM): How Will Qualcomm (QCOM) Stock React to Audi Partnership?