Intel (INTC) Set to Announce Earnings on Thursday

Intel (NASDAQ:INTC) will be issuing its quarterly earnings data after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of ($0.03) per share for the quarter. Intel has set its Q3 guidance at ($0.03) EPS and its Q3 2024 guidance at -0.030–0.030 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the prior year, the firm earned ($0.05) earnings per share. Intel’s revenue was down .8% compared to the same quarter last year. On average, analysts expect Intel to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Intel Stock Performance

NASDAQ INTC opened at $21.98 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company has a fifty day moving average price of $21.55 and a 200-day moving average price of $27.67. Intel has a 1 year low of $18.51 and a 1 year high of $51.28. The firm has a market cap of $93.57 billion, a price-to-earnings ratio of 22.90 and a beta of 1.03.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on INTC shares. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reduced their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Morgan Stanley cut their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Six 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.92.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s 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 purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by corporate insiders.

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.