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San Diego-based Qualcomm Inc. (QCOM), which recently declared a quarterly dividend, is scheduled to discuss its fiscal first-quarter 2010 financial results in a conference call Wednesday, Jan. 27, at approximately 4:45 PM (ET). A live webcast of the call will be available at the company's website.
During the three months that ended in December, Qualcomm saw management changes and was recognize as a leading patent holder in 4G wireless communications. Analysts surveyed by Thomson Reuters are looking for earnings of 56 cents per share, up 44.6% from the same period of last year. Revenue for the period is expected to be 7.5% higher to $2.7 billion.
Looking ahead, analysts so far expect to see similar numbers in the second quarter. Qualcomm fell short of the consensus earnings estimate in only one of the past three quarters, and topped estimates by 12 cents in the fourth quarter.
Qualcomm's long-term EPS growth forecast of 17.3% is better than that of competitor Nokia (NOK). And Qualcomm's earnings multiple is 20x, less than the sector average. The consensus recommendation is to buy QCOM, with a mean price target of $51.03. Options traders have been bullish on QCOM lately, and Apple's (AAPL) good news is expected by some to spill over to Qualcomm.
Shares have risen 15.3% in the past three months, but have retreated from the recent 52-week high of $49.80.
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Reader Comments (Page 1 of 1)
1-27-2010 @ 2:45PM
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