Intel (NASDAQ:INTC) Updates Q3 Earnings Guidance

Intel (NASDAQ:INTC) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.03) for the period, compared to the consensus estimate of $0.31. The company issued revenue guidance of $12.5-$13.5 billion, compared to the consensus revenue estimate of $14.43 billion. Intel also updated its Q3 2024 guidance to -0.030–0.030 EPS.

Analyst Ratings Changes

INTC has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Intel from $36.00 to $25.00 and set an equal weight rating on the stock in a research report on Friday. Rosenblatt Securities restated a sell rating and issued a $17.00 price objective on shares of Intel in a report on Friday. Sanford C. Bernstein lowered their target price on shares of Intel from $42.00 to $35.00 and set a market perform rating for the company in a report on Friday, April 26th. Raymond James cut Intel from an outperform rating to a market perform rating in a research note on Friday. Finally, New Street Research lowered Intel from a buy rating to a neutral rating in a research report on Friday. Five analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Intel presently has a consensus rating of Hold and a consensus target price of $33.41.

Intel Trading Down 26.1 %

Shares of INTC traded down $7.57 during midday trading on Friday, hitting $21.48. The stock had a trading volume of 300,895,920 shares, compared to its average volume of 60,137,096. Intel has a 1 year low of $20.42 and a 1 year high of $51.28. 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 stock’s 50 day moving average is $31.35 and its 200 day moving average is $36.77. The firm has a market cap 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.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

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.