FY2024 Earnings Forecast for Intel Co. Issued By Zacks Research (NASDAQ:INTC)

Intel Co. (NASDAQ:INTC) – Research analysts at Zacks Research decreased their FY2024 EPS estimates for Intel in a research report issued on Wednesday, September 18th. Zacks Research analyst R. Department now expects that the chip maker will earn ($0.38) per share for the year, down from their previous estimate of ($0.35). The consensus estimate for Intel’s current full-year earnings is ($0.47) per share. Zacks Research also issued estimates for Intel’s Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at ($0.08) EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.30 EPS, Q1 2026 earnings at $0.21 EPS and Q2 2026 earnings at $0.31 EPS.

Several other analysts have also recently commented on the stock. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Truist Financial decreased 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, August 2nd. Finally, Morgan Stanley decreased their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Price Performance

Shares of Intel stock opened at $22.81 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $97.10 billion, a price-to-earnings ratio of 23.76 and a beta of 1.03. Intel has a 1-year low of $18.51 and a 1-year high of $51.28. The firm’s 50-day moving average price is $23.20 and its two-hundred day moving average price is $30.49.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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). The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.19%. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Price T Rowe Associates Inc. MD grew its position in shares of Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. Capital International Investors boosted its holdings in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after buying an additional 13,035,566 shares during the period. Davis Selected Advisers boosted its holdings in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after buying an additional 5,851,098 shares during the period. Finally, Caxton Associates LP bought a new stake in shares of Intel during the 2nd quarter worth about $162,592,000. Institutional investors own 64.53% 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.