Intel (INTC) Updates FY 2018 Earnings Guidance

Intel (NASDAQ:INTC) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.53-4.53 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.16. The company issued revenue guidance of $71.2-71.2 billion, compared to the consensus revenue estimate of $69.54 billion.Intel also updated its Q4 2018 guidance to $1.22-1.22 EPS.

Shares of NASDAQ INTC traded up $1.38 during mid-day trading on Friday, reaching $45.69. 67,247,186 shares of the company’s stock were exchanged, compared to its average volume of 32,404,752. The stock has a market cap of $207.30 billion, a PE ratio of 10.09, a P/E/G ratio of 1.27 and a beta of 0.97. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 0.35. Intel has a 52-week low of $42.04 and a 52-week high of $57.60.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. The business had revenue of $19.16 billion during the quarter, compared to analysts’ expectations of $18.11 billion. Intel had a return on equity of 29.83% and a net margin of 21.91%. Research analysts predict that Intel will post 4.16 EPS for the current year.



The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Tuesday, November 6th. Intel’s payout ratio is 34.68%.

Several equities analysts recently issued reports on the company. Sanford C. Bernstein set a $45.00 target price on Intel and gave the stock a sell rating in a research note on Friday. Royal Bank of Canada set a $55.00 target price on Intel and gave the stock a neutral rating in a research note on Friday. Roth Capital decreased their target price on Intel from $65.00 to $60.00 and set a buy rating on the stock in a research note on Friday. Susquehanna Bancshares increased their target price on Intel from $54.00 to $58.00 and gave the stock a positive rating in a research note on Friday. Finally, Morgan Stanley increased their target price on Intel from $50.00 to $54.00 and gave the stock a weight rating in a research note on Friday. Six analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the stock. Intel has a consensus rating of Hold and an average price target of $54.92.

In other news, EVP Steven Ralph Rodgers sold 1,251 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $48.37, for a total transaction of $60,510.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Navin Shenoy sold 601 shares of the firm’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $47.69, for a total value of $28,661.69. Following the sale, the executive vice president now directly owns 40,903 shares in the company, valued at approximately $1,950,664.07. The disclosure for this sale can be found here. Insiders sold a total of 1,864 shares of company stock worth $89,729 in the last ninety days. 0.03% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of INTC. Financial Gravity Wealth Inc. acquired a new stake in shares of Intel during the 1st quarter worth about $120,000. Cozad Asset Management Inc. acquired a new stake in shares of Intel during the 2nd quarter worth about $521,000. Family Management Corp raised its position in shares of Intel by 118.4% during the 2nd quarter. Family Management Corp now owns 12,800 shares of the chip maker’s stock worth $636,000 after acquiring an additional 6,940 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Intel during the 2nd quarter worth about $969,000. Finally, NorthCoast Asset Management LLC raised its position in shares of Intel by 28.0% during the 2nd quarter. NorthCoast Asset Management LLC now owns 20,001 shares of the chip maker’s stock worth $994,000 after acquiring an additional 4,372 shares in the last quarter. 65.44% of the stock is currently owned by institutional investors and hedge funds.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

Read More: How to invest in a bear market

Earnings History and Estimates for Intel (NASDAQ:INTC)

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.

Leave a Reply