Intel (INTC) Set to Announce Earnings on Thursday

Intel (NASDAQ:INTC) will issue its quarterly earnings data after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of ($0.03) per share for the quarter. Intel has set its Q3 guidance at ($0.03) EPS and its Q3 2024 guidance at -0.030–0.030 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. On average, analysts expect Intel to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Intel Stock Performance

INTC opened at $22.92 on Tuesday. The firm has a market capitalization of $97.57 billion, a P/E ratio of 23.88 and a beta of 1.03. The stock’s 50 day moving average price is $21.65 and its two-hundred day moving average price is $27.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction 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 completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on INTC shares. Cantor Fitzgerald decreased their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Roth Mkm decreased their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Finally, Barclays decreased their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.80.

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.