Intel (NASDAQ:INTC) Releases Q2 2024 Earnings Guidance

Intel (NASDAQ:INTC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.100-0.100 for the period, compared to the consensus estimate of 0.240. The company issued revenue guidance of $12.5 billion-$13.5 billion, compared to the consensus revenue estimate of $12.7 billion. Intel also updated its Q2 guidance to $0.10 EPS.

Intel Stock Performance

Intel stock traded down $3.23 during midday trading on Friday, hitting $31.88. 119,742,494 shares of the company’s stock were exchanged, compared to its average volume of 50,613,192. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The stock has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. Intel has a 12-month low of $26.85 and a 12-month high of $51.28. The firm’s 50 day simple moving average is $40.88 and its 200 day simple moving average is $42.23.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share. Equities research analysts predict that Intel will post 0.6 EPS for the current year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTC. TD Cowen decreased their price target on Intel from $42.00 to $35.00 and set a hold rating for the company in a report on Friday. Cantor Fitzgerald reaffirmed a neutral rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Roth Mkm cut their price target on shares of Intel from $45.00 to $35.00 and set a neutral rating for the company in a report on Friday. Stifel Nicolaus reaffirmed a hold rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. cut their target price on Intel from $37.00 to $35.00 and set an underweight rating for the company in a research note on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $39.75.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

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.