Brokerages predict that Intel Co. (NASDAQ:INTC) will report sales of $19.20 billion for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Intel’s earnings. The lowest sales estimate is $19.19 billion and the highest is $19.22 billion. Intel reported sales of $18.66 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The business is scheduled to announce its next earnings report on Thursday, January 23rd.
According to Zacks, analysts expect that Intel will report full-year sales of $70.96 billion for the current financial year, with estimates ranging from $70.95 billion to $70.97 billion. For the next fiscal year, analysts forecast that the firm will report sales of $72.07 billion, with estimates ranging from $67.11 billion to $73.87 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Intel.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.18. The company had revenue of $19.19 billion for the quarter, compared to analyst estimates of $18.07 billion. Intel had a return on equity of 28.28% and a net margin of 27.46%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share.
Several research firms have weighed in on INTC. BMO Capital Markets increased their price objective on Intel from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Mizuho upped their price target on shares of Intel from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Tigress Financial restated a “buy” rating on shares of Intel in a research note on Friday, August 30th. Zacks Investment Research raised shares of Intel from a “hold” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a research report on Monday, October 28th. Finally, SunTrust Banks lifted their price objective on shares of Intel from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Nine analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.32.
NASDAQ INTC traded down $1.46 on Friday, reaching $56.20. The stock had a trading volume of 2,111,387 shares, compared to its average volume of 15,098,742. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.20 and a quick ratio of 0.85. The firm has a fifty day moving average of $56.23 and a two-hundred day moving average of $50.19. Intel has a 1-year low of $42.86 and a 1-year high of $59.59. The company has a market cap of $252.52 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91.
Intel announced that its board has authorized a stock repurchase program on Thursday, October 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a — dividend, which was paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th were given a dividend of $0.315 per share. The ex-dividend date was Wednesday, November 6th. This represents a yield of 2.4%. Intel’s dividend payout ratio is currently 27.51%.
In other Intel news, Director James J. Goetz bought 86,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of $58.24 per share, with a total value of $5,037,760.00. Following the completion of the purchase, the director now owns 137,720 shares in the company, valued at $8,020,812.80. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Andy D. Bryant sold 46,932 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $58.24, for a total transaction of $2,733,319.68. Following the completion of the transaction, the chairman now directly owns 425,491 shares of the company’s stock, valued at approximately $24,780,595.84. The disclosure for this sale can be found here. Insiders have sold 68,738 shares of company stock valued at $3,692,492 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.
Several institutional investors have recently made changes to their positions in INTC. Beaton Management Co. Inc. grew its holdings in shares of Intel by 0.8% during the 3rd quarter. Beaton Management Co. Inc. now owns 23,905 shares of the chip maker’s stock valued at $1,232,000 after acquiring an additional 190 shares in the last quarter. Lindbrook Capital LLC increased its position in Intel by 1.4% in the 3rd quarter. Lindbrook Capital LLC now owns 14,246 shares of the chip maker’s stock worth $734,000 after purchasing an additional 193 shares during the last quarter. Empirical Finance LLC increased its position in Intel by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 11,109 shares of the chip maker’s stock worth $572,000 after purchasing an additional 195 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Intel by 1.3% during the 3rd quarter. Grove Bank & Trust now owns 15,025 shares of the chip maker’s stock worth $774,000 after purchasing an additional 199 shares in the last quarter. Finally, Delta Asset Management LLC TN raised its stake in shares of Intel by 0.9% during the 2nd quarter. Delta Asset Management LLC TN now owns 23,170 shares of the chip maker’s stock worth $1,109,000 after purchasing an additional 200 shares in the last quarter. 65.33% of the stock is currently owned by institutional investors.
Intel Company Profile
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
Further Reading: Bear Market – How and Why They Occur
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.