Intel (NASDAQ:INTC) Releases Q3 2024 Earnings Guidance

Intel (NASDAQ:INTC) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -0.030–0.030 for the period, compared to the consensus estimate of 0.310. The company issued revenue guidance of $12.5 billion-$13.5 billion, compared to the consensus revenue estimate of $14.4 billion. Intel also updated its Q3 guidance to ($0.03) EPS.

Analysts Set New Price Targets

INTC has been the subject of a number of research analyst reports. UBS Group dropped their price target on shares of Intel from $37.00 to $32.00 and set a neutral rating on the stock in a research note on Friday. Benchmark downgraded shares of Intel from a buy rating to a hold rating in a research report on Friday. Citigroup cut their target price on shares of Intel from $47.50 to $40.00 and set a neutral rating for the company in a research report on Monday, April 15th. New Street Research downgraded shares of Intel from a buy rating to a neutral rating in a research report on Friday. Finally, Roth Mkm cut their target price on shares of Intel from $35.00 to $25.00 and set a neutral rating for the company in a research report on Friday. Five research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $33.41.

Intel Trading Down 26.1 %

INTC stock traded down $7.57 during mid-day trading on Friday, reaching $21.48. The company had a trading volume of 300,895,920 shares, compared to its average volume of 60,137,096. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The company has a market capitalization of $91.44 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The firm has a 50 day moving average of $31.35 and a 200 day moving average of $36.71. Intel has a 12 month low of $20.42 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results 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 return on equity of 1.82% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the company posted ($0.05) EPS. Intel’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts predict that Intel will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

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