Intel (NASDAQ:INTC) Issues Q2 2024 Earnings Guidance

Intel (NASDAQ:INTC) updated its second quarter 2024 earnings guidance on Thursday. 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 Stock Performance

INTC stock traded down $3.23 during midday trading on Friday, hitting $31.88. 119,742,494 shares of the company traded hands, compared to its average volume of 50,613,192. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $40.88 and a 200-day simple moving average of $42.23. The stock has a market capitalization 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 twelve month low of $26.85 and a twelve month high of $51.28.

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

Intel Announces Dividend

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

Analyst Ratings Changes

INTC has been the topic of several research analyst reports. Sanford C. Bernstein lowered their price objective on shares of Intel from $42.00 to $35.00 and set a market perform rating on the stock in a research note on Friday. Benchmark reiterated a buy rating and issued a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Wedbush cut their price target on shares of Intel from $40.00 to $32.50 and set a neutral rating for the company in a report on Friday. Barclays cut their price objective on Intel from $44.00 to $40.00 and set an equal weight rating for the company in a research report on Friday. Finally, Susquehanna dropped their target price on shares of Intel from $40.00 to $35.00 and set a neutral rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $39.75.

Insider Activity

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value 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. Corporate 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.