Brokerages Anticipate Intel Co. (NASDAQ:INTC) Will Announce Quarterly Sales of $18.04 Billion

Brokerages predict that Intel Co. (NASDAQ:INTC) will report $18.04 billion in sales for the current fiscal quarter, according to Zacks. Twelve analysts have issued estimates for Intel’s earnings. The highest sales estimate is $18.30 billion and the lowest is $17.90 billion. Intel posted sales of $19.16 billion in the same quarter last year, which would indicate a negative year over year growth rate of 5.8%. The firm is expected to issue its next earnings report on Thursday, October 24th.

On average, analysts expect that Intel will report full-year sales of $69.37 billion for the current financial year, with estimates ranging from $68.83 billion to $70.00 billion. For the next year, analysts expect that the business will post sales of $70.87 billion, with estimates ranging from $65.95 billion to $73.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Intel.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating the consensus estimate of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The firm had revenue of $16.51 billion for the quarter, compared to analyst estimates of $15.70 billion. During the same period last year, the firm earned $1.04 EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year.

Several equities research analysts recently commented on INTC shares. BMO Capital Markets downgraded shares of Intel from an “outperform” rating to a “market perform” rating and set a $47.99 target price on the stock. in a research report on Thursday, May 9th. Loop Capital assumed coverage on shares of Intel in a research report on Monday. They issued a “hold” rating and a $50.00 price target on the stock. Robert W. Baird boosted their price target on shares of Intel from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. ValuEngine downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $64.00 price target on shares of Intel in a research report on Friday, July 26th. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $54.19.

In other Intel news, Chairman Andy D. Bryant sold 13,609 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $51.37, for a total transaction of $699,094.33. Following the completion of the sale, the chairman now owns 450,591 shares in the company, valued at approximately $23,146,859.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reed E. Hundt sold 10,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $52.45, for a total transaction of $524,500.00. Following the sale, the director now owns 44,400 shares of the company’s stock, valued at approximately $2,328,780. The disclosure for this sale can be found here. Insiders have sold a total of 36,524 shares of company stock valued at $1,844,221 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Tributary Capital Management LLC bought a new stake in shares of Intel in the 4th quarter worth $28,000. Ogorek Anthony Joseph NY ADV grew its stake in shares of Intel by 500.0% in the 2nd quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after acquiring an additional 500 shares in the last quarter. Global Trust Asset Management LLC grew its stake in shares of Intel by 273.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock worth $45,000 after acquiring an additional 2,442 shares in the last quarter. Virtus ETF Advisers LLC bought a new stake in shares of Intel in the 4th quarter worth $48,000. Finally, Next Capital Management LLC bought a new stake in shares of Intel in the 2nd quarter worth $48,000. Institutional investors and hedge funds own 66.46% of the company’s stock.

INTC stock traded down $0.17 during mid-day trading on Thursday, hitting $45.70. The stock had a trading volume of 21,636,215 shares, compared to its average volume of 23,761,705. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Intel has a 52 week low of $42.36 and a 52 week high of $59.59. The firm has a market capitalization of $202.01 billion, a P/E ratio of 9.98, a P/E/G ratio of 1.39 and a beta of 0.88. The firm has a fifty day simple moving average of $48.87 and a 200 day simple moving average of $50.20.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.315 per share. The ex-dividend date is Tuesday, August 6th. This represents a $1.26 dividend on an annualized basis and a yield of 2.76%. Intel’s dividend payout ratio (DPR) is presently 27.51%.

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.

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