Intel (NASDAQ:INTC) Issues Q4 2024 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.120-0.120 for the period, compared to the consensus earnings per share estimate of 0.080. The company issued revenue guidance of $13.3 billion-$14.3 billion, compared to the consensus revenue estimate of $13.7 billion. Intel also updated its Q4 guidance to $0.12 EPS.

Intel Price Performance

Intel stock traded down $0.78 during midday trading on Thursday, hitting $21.52. 110,401,746 shares of the company’s stock were exchanged, compared to its average volume of 58,829,703. The company has a market cap of $91.61 billion, a P/E ratio of 22.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a 50-day moving average price of $21.71 and a two-hundred day moving average price of $27.15. Intel has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. On average, equities research analysts forecast that Intel will post -0.47 earnings per share for the current year.

Analyst Ratings Changes

INTC has been the topic of several research reports. Barclays lowered their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Roth Mkm lowered their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Cantor Fitzgerald cut their target price on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $30.80.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.