Intel Corp. Forecasted to Post FY2016 Earnings of $2.71 Per Share (INTC)
Intel Corp. (NASDAQ:INTC) – Stock analysts at Jefferies Group lifted their FY2016 EPS estimates for Intel Corp. in a note issued to investors on Monday. Jefferies Group analyst M. Lipacis now forecasts that the brokerage will earn $2.71 per share for the year, up from their prior estimate of $2.62. Jefferies Group has a “Buy” rating and a $49.00 price objective on the stock. Jefferies Group also issued estimates for Intel Corp.’s Q4 2016 earnings at $0.86 EPS, Q1 2017 earnings at $0.69 EPS, Q2 2017 earnings at $0.74 EPS, Q3 2017 earnings at $0.83 EPS and Q4 2017 earnings at $1.00 EPS.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS.
A number of other research analysts have also commented on the company. Cowen and Company reissued a “market perform” rating and set a $36.00 price objective (up previously from $32.00) on shares of Intel Corp. in a report on Monday, July 11th. Evercore ISI raised Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, September 6th. Vetr lowered Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 price objective on the stock. in a report on Monday, July 4th. Royal Bank Of Canada increased their price objective on Intel Corp. from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, July 8th. Finally, Zacks Investment Research lowered Intel Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 5th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.45 on Tuesday. The company’s 50 day moving average price is $35.62 and its 200 day moving average price is $32.97. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.05. The firm has a market capitalization of $177.18 billion, a price-to-earnings ratio of 18.16 and a beta of 0.93.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.78%. Intel Corp.’s payout ratio is 50.24%.
In other Intel Corp. news, CFO Stacy J. Smith sold 29,497 shares of Intel Corp. stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the transaction, the chief financial officer now owns 263,772 shares of the company’s stock, valued at approximately $9,092,220.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian M. Krzanich sold 71,413 shares of Intel Corp. stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $32.73, for a total transaction of $2,337,347.49. Following the transaction, the chief executive officer now directly owns 435,796 shares in the company, valued at approximately $14,263,603.08. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of INTC. CHICAGO TRUST Co NA boosted its position in Intel Corp. by 0.6% in the first quarter. CHICAGO TRUST Co NA now owns 122,713 shares of the chip maker’s stock valued at $3,969,000 after buying an additional 681 shares in the last quarter. Eqis Capital Management Inc. boosted its position in Intel Corp. by 38.1% in the first quarter. Eqis Capital Management Inc. now owns 37,845 shares of the chip maker’s stock valued at $1,224,000 after buying an additional 10,442 shares in the last quarter. Needelman Asset Management Inc. boosted its position in Intel Corp. by 2.0% in the first quarter. Needelman Asset Management Inc. now owns 34,855 shares of the chip maker’s stock valued at $1,128,000 after buying an additional 696 shares in the last quarter. Union Bankshares Corp boosted its position in Intel Corp. by 3.1% in the first quarter. Union Bankshares Corp now owns 136,643 shares of the chip maker’s stock valued at $4,421,000 after buying an additional 4,095 shares in the last quarter. Finally, Iowa State Bank boosted its position in Intel Corp. by 2.0% in the first quarter. Iowa State Bank now owns 82,035 shares of the chip maker’s stock valued at $2,654,000 after buying an additional 1,625 shares in the last quarter. 64.77% of the stock is currently owned by hedge funds and other institutional investors.
Intel Corp. Company Profile
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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