Intel (NASDAQ:INTC) Releases Q2 2024 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) 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 Price Performance

Shares of INTC stock traded down $3.23 during trading hours on Friday, reaching $31.88. The company had a trading volume of 119,742,494 shares, 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 fifty day moving average of $40.88 and a 200-day moving average of $42.23. The company has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG 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.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. On average, equities analysts anticipate that Intel will post 0.6 earnings per share for the current year.

Intel Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Benchmark reiterated a buy rating and issued a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Evercore ISI lowered their price objective on Intel from $40.00 to $36.00 and set an in-line rating for the company in a research report on Friday. Susquehanna lowered their price objective on Intel from $40.00 to $35.00 and set a neutral rating for the company in a research report on Friday. Bank of America lowered their price objective on Intel from $50.00 to $44.00 and set a neutral rating for the company in a research report on Friday, April 12th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $39.75.

Insider Activity

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

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.