Zacks: Analysts Anticipate InterDigital Wireless Inc (NASDAQ:IDCC) Will Post Earnings of $0.10 Per Share

Equities analysts expect that InterDigital Wireless Inc (NASDAQ:IDCC) will announce $0.10 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for InterDigital Wireless’ earnings. InterDigital Wireless posted earnings per share of $0.60 in the same quarter last year, which would indicate a negative year-over-year growth rate of 83.3%. The company is expected to announce its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that InterDigital Wireless will report full year earnings of $0.32 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.33. For the next fiscal year, analysts forecast that the firm will report earnings of $1.31 per share, with EPS estimates ranging from $1.10 to $1.52. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover InterDigital Wireless.

InterDigital Wireless (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.12. The company had revenue of $75.61 million during the quarter, compared to analysts’ expectations of $75.50 million. InterDigital Wireless had a return on equity of 3.15% and a net margin of 9.56%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share.

A number of brokerages have commented on IDCC. B. Riley reissued a “buy” rating and issued a $80.00 price objective (down previously from $90.00) on shares of InterDigital Wireless in a research note on Friday, August 2nd. BidaskClub lowered InterDigital Wireless from a “sell” rating to a “strong sell” rating in a report on Saturday, June 15th. Finally, Zacks Investment Research lowered InterDigital Wireless from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. InterDigital Wireless currently has a consensus rating of “Hold” and an average price target of $80.00.

NASDAQ IDCC traded down $1.91 during trading hours on Friday, hitting $47.13. 270,738 shares of the company’s stock were exchanged, compared to its average volume of 510,124. The stock has a 50-day simple moving average of $59.34 and a 200 day simple moving average of $65.47. InterDigital Wireless has a 1-year low of $47.02 and a 1-year high of $83.65. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 12.66 and a beta of 0.98. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.43.

In other news, Director Jean F. Rankin sold 680 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $64.84, for a total value of $44,091.20. Following the transaction, the director now owns 20,918 shares in the company, valued at $1,356,323.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Merritt sold 15,000 shares of InterDigital Wireless stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $65.02, for a total value of $975,300.00. Following the sale, the insider now owns 176,065 shares in the company, valued at $11,447,746.30. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in InterDigital Wireless during the second quarter worth $26,000. Tower Research Capital LLC TRC lifted its holdings in InterDigital Wireless by 6,828.6% during the second quarter. Tower Research Capital LLC TRC now owns 485 shares of the Wireless communications provider’s stock worth $31,000 after acquiring an additional 478 shares during the period. Point72 Hong Kong Ltd bought a new stake in InterDigital Wireless during the second quarter worth $38,000. Royce & Associates LP lifted its holdings in InterDigital Wireless by 40.6% during the first quarter. Royce & Associates LP now owns 700 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 202 shares during the period. Finally, US Bancorp DE lifted its holdings in InterDigital Wireless by 79.1% during the second quarter. US Bancorp DE now owns 1,112 shares of the Wireless communications provider’s stock worth $72,000 after acquiring an additional 491 shares during the period. Institutional investors and hedge funds own 72.52% of the company’s stock.

InterDigital Wireless Company Profile

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.

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Earnings History and Estimates for InterDigital Wireless (NASDAQ:IDCC)

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