Intel Co. Forecasted to Post FY2024 Earnings of ($0.49) Per Share (NASDAQ:INTC)

Intel Co. (NASDAQ:INTC) – Investment analysts at Cantor Fitzgerald issued their FY2024 EPS estimates for Intel in a research note issued on Monday, August 26th. Cantor Fitzgerald analyst C. Muse expects that the chip maker will post earnings of ($0.49) per share for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $27.00 target price on the stock. The consensus estimate for Intel’s current full-year earnings is $0.07 per share.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.82%. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis.

INTC has been the subject of a number of other reports. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Benchmark cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Intel in a research note on Monday, May 13th. They issued a “hold” rating and a $34.00 price objective for the company. Finally, Roth Mkm reduced their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Stock Up 2.7 %

Shares of INTC stock opened at $20.13 on Thursday. Intel has a 12 month low of $18.84 and a 12 month high of $51.28. The stock has a market cap of $85.69 billion, a P/E ratio of 20.97, a P/E/G ratio of 17.38 and a beta of 1.05. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $27.63 and a two-hundred day simple moving average of $33.66.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Intel in the 4th quarter valued at about $297,000. DDFG Inc acquired a new stake in Intel in the 4th quarter worth approximately $205,000. Duff & Phelps Investment Management Co. boosted its stake in Intel by 1.1% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 46,794 shares of the chip maker’s stock worth $2,351,000 after purchasing an additional 500 shares in the last quarter. Norden Group LLC boosted its stake in Intel by 33.7% in the 4th quarter. Norden Group LLC now owns 11,279 shares of the chip maker’s stock worth $567,000 after purchasing an additional 2,843 shares in the last quarter. Finally, Certuity LLC boosted its stake in Intel by 59.6% in the 4th quarter. Certuity LLC now owns 10,230 shares of the chip maker’s stock worth $514,000 after purchasing an additional 3,820 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is currently owned by insiders.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.