FY2024 Earnings Forecast for Intel Co. Issued By Zacks Research (NASDAQ:INTC)

Intel Co. (NASDAQ:INTC) – Zacks Research dropped their FY2024 earnings estimates for shares of Intel in a report released on Wednesday, September 18th. Zacks Research analyst R. Department now expects that the chip maker will post earnings of ($0.38) per share for the year, down from their previous estimate of ($0.35). The consensus estimate for Intel’s current full-year earnings is ($0.47) per share. Zacks Research also issued estimates for Intel’s Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at ($0.08) EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.30 EPS, Q1 2026 earnings at $0.21 EPS and Q2 2026 earnings at $0.31 EPS.

Other equities analysts have also recently issued reports about the stock. Benchmark restated a “hold” rating on shares of Intel in a research report on Monday. Susquehanna dropped their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Truist Financial dropped their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, August 2nd. Six equities 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

Shares of NASDAQ:INTC opened at $22.81 on Monday. The firm has a 50 day moving average of $23.20 and a 200-day moving average of $30.49. The stock has a market capitalization of $97.10 billion, a PE ratio of 23.76 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 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 (NASDAQ:INTC) last posted its quarterly earnings data 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 the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Insider Activity at Intel

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

Institutional Investors Weigh In On Intel

A number of institutional investors and hedge funds have recently bought and sold shares of INTC. Burkett Financial Services LLC purchased a new stake in shares of Intel during the 4th quarter valued at $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel during the 1st quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Intel during the 1st quarter valued at $36,000. America First Investment Advisors LLC purchased a new stake in shares of Intel during the 2nd quarter valued at $25,000. Finally, Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the 2nd quarter valued at $27,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Company Profile

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.