Intel (NASDAQ:INTC) Issues Q3 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.03) for the period, compared to the consensus earnings per share estimate of $0.31. The company issued revenue guidance of $12.5-$13.5 billion, compared to the consensus revenue estimate of $14.43 billion. Intel also updated its Q3 2024 guidance to -0.030–0.030 EPS.

Intel Stock Performance

NASDAQ INTC traded down $7.57 on Friday, reaching $21.48. 300,895,920 shares of the stock were exchanged, compared to its average volume of 60,137,096. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel has a one year low of $20.42 and a one year high of $51.28. The firm has a market capitalization of $91.44 billion, a PE ratio of 22.38, a PEG ratio of 17.38 and a beta of 1.05. The company’s 50-day simple moving average is $31.35 and its two-hundred day simple moving average is $36.77.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Analysts Set New Price Targets

A number of equities research analysts have commented on INTC shares. JPMorgan Chase & Co. decreased their price target on Intel from $35.00 to $26.00 and set an underweight rating on the stock in a report on Friday. Morgan Stanley lowered their price target on Intel from $36.00 to $25.00 and set an equal weight rating on the stock in a report on Friday. Jefferies Financial Group assumed coverage on Intel in a research note on Monday, May 13th. They issued a hold rating and a $34.00 price target for the company. Benchmark cut shares of Intel from a buy rating to a hold rating in a research report on Friday. Finally, Evercore ISI dropped their target price on shares of Intel from $40.00 to $36.00 and set an in-line rating for the company in a research report on Friday, April 26th. Five analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Intel currently has an average rating of Hold and a consensus price target of $33.41.

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.