Intel (NASDAQ:INTC) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Intel (NASDAQ:INTC) released its quarterly earnings data on Thursday. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08), Briefing.com reports. Intel had a net margin of 1.77% and a return on equity of 1.82%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Intel updated its Q3 guidance to ($0.03) EPS and its Q3 2024 guidance to -0.030–0.030 EPS.

Intel Price Performance

Shares of INTC stock traded down $7.57 on Friday, hitting $21.48. 300,895,920 shares of the company’s stock were exchanged, compared to its average volume of 60,137,096. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a market cap of $91.44 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. Intel has a 12 month low of $20.42 and a 12 month high of $51.28. The company has a 50 day moving average of $31.35 and a 200 day moving average of $36.77.

Intel Announces Dividend

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

Analysts Set New Price Targets

INTC has been the topic of several recent analyst reports. Benchmark cut Intel from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Financial Group initiated coverage on Intel in a research note on Monday, May 13th. They issued a “hold” rating and a $34.00 target price on the stock. Sanford C. Bernstein cut their target price on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company cut their target price on Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research note on Friday. Five research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Intel has a consensus rating of “Hold” and an average target price of $33.41.

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.