QUALCOMM, Inc. (NASDAQ:QCOM) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Monday, StockTargetPrices.com reports. They currently have a $50.00 target price on the wireless technology company’s stock, down from their prior target price of $55.00. Barclays’ target price would indicate a potential downside of 1.69% from the company’s current price.
QUALCOMM (NASDAQ:QCOM) opened at 50.86 on Monday. The company has a market capitalization of $76.03 billion and a price-to-earnings ratio of 16.90. QUALCOMM has a 12 month low of $42.24 and a 12 month high of $71.90. The stock has a 50 day moving average of $49.85 and a 200 day moving average of $51.49.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 27th. The wireless technology company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.07. The firm earned $5.78 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same period in the prior year, the company earned $1.34 EPS. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. Equities analysts anticipate that QUALCOMM will post $4.10 EPS for the current fiscal year.
Source: American Banking and Market News