Zacks: Brokerages Expect InterDigital Wireless Inc (NASDAQ:IDCC) Will Post Quarterly Sales of $76.80 Million

Equities analysts predict that InterDigital Wireless Inc (NASDAQ:IDCC) will post $76.80 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for InterDigital Wireless’ earnings, with estimates ranging from $74.50 million to $79.10 million. InterDigital Wireless posted sales of $75.08 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The firm is scheduled to announce its next earnings results on Thursday, November 7th.

On average, analysts expect that InterDigital Wireless will report full-year sales of $296.70 million for the current year, with estimates ranging from $294.80 million to $298.60 million. For the next year, analysts forecast that the firm will report sales of $319.90 million, with estimates ranging from $311.00 million to $328.80 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover InterDigital Wireless.

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

IDCC has been the subject of several recent research reports. BidaskClub upgraded shares of InterDigital Wireless from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 10th. B. Riley reiterated a “buy” rating and set a $80.00 price target (down from $90.00) on shares of InterDigital Wireless in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $80.00.

Hedge funds and other institutional investors have recently modified their holdings of the company. Empirical Finance LLC grew its holdings in shares of InterDigital Wireless by 0.9% during the second quarter. Empirical Finance LLC now owns 32,220 shares of the Wireless communications provider’s stock worth $2,075,000 after buying an additional 280 shares in the last quarter. Regal Investment Advisors LLC grew its holdings in shares of InterDigital Wireless by 2.5% during the first quarter. Regal Investment Advisors LLC now owns 26,306 shares of the Wireless communications provider’s stock worth $1,736,000 after buying an additional 633 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of InterDigital Wireless during the second quarter worth about $3,677,000. O Shaughnessy Asset Management LLC grew its holdings in shares of InterDigital Wireless by 15.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,263 shares of the Wireless communications provider’s stock worth $545,000 after buying an additional 1,116 shares in the last quarter. Finally, General American Investors Co. Inc. grew its holdings in shares of InterDigital Wireless by 24.4% during the second quarter. General American Investors Co. Inc. now owns 179,137 shares of the Wireless communications provider’s stock worth $11,536,000 after buying an additional 35,171 shares in the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.

NASDAQ:IDCC traded up $0.54 during mid-day trading on Wednesday, hitting $55.70. 8,960 shares of the company’s stock traded hands, compared to its average volume of 406,483. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.87 and a current ratio of 3.87. The firm’s 50 day simple moving average is $53.00 and its 200 day simple moving average is $63.21. InterDigital Wireless has a 1 year low of $47.02 and a 1 year high of $82.00. The company has a market cap of $1.73 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 13.87 and a beta of 1.07.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.51%. InterDigital Wireless’s dividend payout ratio (DPR) is presently 77.35%.

About InterDigital Wireless

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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