Analysts Anticipate Intel Co. (NASDAQ:INTC) Will Post Quarterly Sales of $18.21 Billion

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Wall Street analysts expect Intel Co. (NASDAQ:INTC) to announce $18.21 billion in sales for the current quarter, Zacks reports. Eleven analysts have provided estimates for Intel’s earnings. The lowest sales estimate is $18.19 billion and the highest is $18.24 billion. Intel reported sales of $19.19 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 5.1%. The business is expected to announce its next earnings report after the market closes on Thursday, October 22nd.

On average, analysts expect that Intel will report full year sales of $75.09 billion for the current financial year, with estimates ranging from $74.96 billion to $75.56 billion. For the next fiscal year, analysts expect that the company will report sales of $74.35 billion, with estimates ranging from $70.59 billion to $78.70 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Intel.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, topping the consensus estimate of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The company had revenue of $19.73 billion during the quarter, compared to analysts’ expectations of $18.54 billion. During the same quarter in the previous year, the business posted $1.06 EPS.

Several research firms have commented on INTC. Bank of America cut shares of Intel from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $70.00 to $62.00 in a report on Friday, July 24th. UBS Group boosted their price objective on shares of Intel from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub upgraded shares of Intel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 23rd. Zacks Investment Research downgraded shares of Intel from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research report on Monday, July 27th. Finally, Mizuho restated a “buy” rating and set a $63.00 price objective on shares of Intel in a research report on Monday, August 10th. Twelve analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $61.24.

NASDAQ INTC traded up $0.31 on Wednesday, hitting $54.16. 23,421,388 shares of the stock were exchanged, compared to its average volume of 29,674,551. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44. Intel has a fifty-two week low of $43.63 and a fifty-two week high of $69.29. The company has a market cap of $230.34 billion, a PE ratio of 9.97, a PEG ratio of 1.48 and a beta of 0.72. The company has a 50-day moving average price of $50.81 and a 200-day moving average price of $55.53.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Saturday, November 7th will be paid a $0.33 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.32 annualized dividend and a yield of 2.44%. Intel’s dividend payout ratio is currently 27.10%.

In related news, CEO Robert Holmes Swan purchased 8,021 shares of the stock in a transaction dated Friday, July 24th. The shares were acquired at an average cost of $50.00 per share, with a total value of $401,050.00. Following the purchase, the chief executive officer now directly owns 293,594 shares in the company, valued at approximately $14,679,700. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Navin Shenoy sold 2,847 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $48.18, for a total transaction of $137,168.46. Following the transaction, the executive vice president now directly owns 71,807 shares in the company, valued at $3,459,661.26. The disclosure for this sale can be found here. Insiders sold a total of 7,491 shares of company stock worth $365,878 over the last three months. 0.04% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Domani Wealth LLC grew its stake in shares of Intel by 28.5% during the 3rd quarter. Domani Wealth LLC now owns 8,398 shares of the chip maker’s stock worth $435,000 after purchasing an additional 1,865 shares during the period. Relyea Zuckerberg Hanson LLC grew its stake in Intel by 22.6% in the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 4,488 shares of the chip maker’s stock valued at $242,000 after acquiring an additional 828 shares during the last quarter. Cardinal Capital Management grew its stake in Intel by 0.6% in the 3rd quarter. Cardinal Capital Management now owns 147,257 shares of the chip maker’s stock valued at $7,625,000 after acquiring an additional 944 shares during the last quarter. IBM Retirement Fund grew its stake in Intel by 36.7% in the 3rd quarter. IBM Retirement Fund now owns 144,424 shares of the chip maker’s stock valued at $7,478,000 after acquiring an additional 38,751 shares during the last quarter. Finally, Quattro Financial Advisors LLC acquired a new stake in Intel in the 3rd quarter valued at about $2,115,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

About Intel

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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