Intel (NASDAQ:INTC) Posts Earnings Results, Misses Estimates By $0.08 EPS

Intel (NASDAQ:INTC) issued its quarterly earnings results on Thursday. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08), Briefing.com reports. The firm had revenue of $12.80 billion for 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 1.82%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Intel updated its Q3 guidance to ($0.03) EPS and its Q3 2024 guidance to -0.030–0.030 EPS.

Intel Price Performance

Shares of Intel stock traded down $7.57 on Friday, reaching $21.48. The company’s stock had a trading volume of 300,895,920 shares, compared to its average volume of 60,137,096. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $91.44 billion, a P/E ratio of 22.38, a PEG ratio of 17.38 and a beta of 1.05. The stock has a 50-day moving average price of $31.35 and a 200-day moving average price of $36.77. Intel has a 52-week low of $20.42 and a 52-week high of $51.28.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.33%. Intel’s dividend payout ratio is currently 52.08%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group reduced their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday. Susquehanna lowered their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial reduced their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday. Benchmark cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, April 26th. Five research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.41.

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.