Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – OpCo Cuts Qualcomm To Hold; ‘No Easy Fixes’ To Core Business Challenges

[at Barrons.com] – Qualcomm (QCOM) is lower Friday, hurt in part by a downgrade from Oppenheimer. Analysts Rick Schafer and Shawn Simmons assumed coverage of the stock today, and lowered their rating from Outperform to Perform, removing the previous $67 price target. Read more on this. QUALCOMM Incorporated (QCOM) , currently valued at $78.56B, opened this morning at $52.33. Shares have traded today between $51.90 and $52.90 per share and has traded between $42.24 and $74.09 over the past year. Priced at 12.78x this year’s forecasted earnings, QCOM shares are relatively inexpensive compared to the industry’s 19.08x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $1.92 per share annually in dividends, yielding 3.68%. Consensus earnings for the current quarter by the 27 sell-side analysts covering the stock is an estimate of $0.96 per share, which would be $0.44 worse than the year-ago quarter and a $0.06 sequential decrease. The full-year EPS estimate is $4.10 which would be a $0.56 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.33 Billion. If realized, that would be a 22.64% decrease over the year-ago quarter. More recently, Bernstein upgraded QCOM from Mkt Perform to Outperform (Feb 16, 2016). Previously, Susquehanna upgraded QCOM from Neutral to Positive. The average price target for QCOM shares by the analysts covering it is $57.55, which is 9.98% above where the stock opened. See more in (NASDAQ:QCOM) Similar Articles: Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – Analysts: Qualcomm’s Good Results Don’t Hide Smartphone Uncertainty Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – GSK said to be in talks with Qualcomm to form JV – Bloomberg Stock Update: Qualcomm Incorporated (NASDAQ:QCOM) – Qualcomm Signs Definitive Agreement to Sell Vuforia Business to PTC