Zacks: Analysts Anticipate InterDigital Wireless Inc (NASDAQ:IDCC) to Announce $0.28 Earnings Per Share

Equities analysts expect that InterDigital Wireless Inc (NASDAQ:IDCC) will post earnings per share (EPS) of $0.28 for the current quarter, according to Zacks. Two analysts have made estimates for InterDigital Wireless’ earnings, with estimates ranging from $0.22 to $0.34. InterDigital Wireless posted earnings per share of $0.60 in the same quarter last year, which would suggest a negative year-over-year growth rate of 53.3%. The firm is scheduled to issue its next earnings results on Thursday, November 7th.

On average, analysts expect that InterDigital Wireless will report full-year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.44 to $0.75. For the next year, analysts expect that the business will post earnings of $2.16 per share, with EPS estimates ranging from $1.44 to $2.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for InterDigital Wireless.

InterDigital Wireless (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.12. The business had revenue of $75.61 million during the quarter, compared to the consensus estimate of $75.50 million. InterDigital Wireless had a net margin of 10.79% and a return on equity of 3.27%. InterDigital Wireless’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS.

A number of research firms have recently commented on IDCC. Zacks Investment Research downgraded shares of InterDigital Wireless from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. B. Riley restated a “buy” rating and issued a $80.00 price objective (down previously from $90.00) on shares of InterDigital Wireless in a research report on Friday. Finally, BidaskClub cut shares of InterDigital Wireless from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 15th. One 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. The company currently has a consensus rating of “Hold” and an average target price of $80.00.

In other news, insider William J. Merritt sold 15,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $65.02, for a total value of $975,300.00. Following the completion of the transaction, the insider now owns 176,065 shares of the company’s stock, valued at $11,447,746.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jean F. Rankin sold 680 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $64.84, for a total transaction of $44,091.20. Following the completion of the transaction, the director now directly owns 20,918 shares of the company’s stock, valued at approximately $1,356,323.12. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Stevens Capital Management LP bought a new position in shares of InterDigital Wireless in the second quarter worth about $1,893,000. Wealthcare Capital Management LLC lifted its stake in InterDigital Wireless by 190.5% during the 2nd quarter. Wealthcare Capital Management LLC now owns 1,525 shares of the Wireless communications provider’s stock valued at $98,000 after acquiring an additional 1,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in InterDigital Wireless by 12.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,746 shares of the Wireless communications provider’s stock valued at $1,143,000 after acquiring an additional 2,000 shares in the last quarter. Westside Investment Management Inc. bought a new position in InterDigital Wireless during the 2nd quarter valued at $369,000. Finally, Empirical Finance LLC lifted its stake in InterDigital Wireless by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 32,220 shares of the Wireless communications provider’s stock valued at $2,075,000 after acquiring an additional 280 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

InterDigital Wireless stock traded down $4.13 during mid-day trading on Friday, reaching $59.45. The company had a trading volume of 16,716 shares, compared to its average volume of 244,602. The stock’s 50 day simple moving average is $65.13. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 7.26 and a beta of 1.00. InterDigital Wireless has a 52 week low of $62.34 and a 52 week high of $83.65. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%. InterDigital Wireless’s payout ratio 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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