Intel (NASDAQ:INTC) Updates Q4 Earnings Guidance

by · The Markets Daily

Intel (NASDAQ:INTC – Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.12 for the period, compared to the consensus EPS estimate of $0.08. The company issued revenue guidance of $13.3-$14.3 billion, compared to the consensus revenue estimate of $13.66 billion. Intel also updated its Q4 2024 guidance to 0.120-0.120 EPS.

Intel Trading Up 7.8 %

Intel stock traded up $1.68 during trading hours on Friday, hitting $23.20. The stock had a trading volume of 173,471,115 shares, compared to its average volume of 53,975,400. The stock has a market cap of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The business’s 50 day simple moving average is $21.79 and its 200-day simple moving average is $26.90. Intel has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC – Get Free Report) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, equities analysts predict that Intel will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. Truist Financial boosted their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.12.

Get Our Latest Stock Analysis on INTC

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by insiders.

Intel Company Profile

(Get Free Report)

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.

See Also