Zacks: Brokerages Expect Intel Co. (NASDAQ:INTC) Will Announce Quarterly Sales of $18.39 Billion

Brokerages predict that Intel Co. (NASDAQ:INTC) will post $18.39 billion in sales for the current quarter, according to Zacks. Ten analysts have made estimates for Intel’s earnings, with the highest sales estimate coming in at $19.20 billion and the lowest estimate coming in at $18.29 billion. Intel reported sales of $19.98 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 8%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, January 26th.

According to Zacks, analysts expect that Intel will report full-year sales of $73.88 billion for the current year, with estimates ranging from $73.47 billion to $77.70 billion. For the next fiscal year, analysts expect that the business will post sales of $73.56 billion, with estimates ranging from $70.85 billion to $74.53 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Intel.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Wednesday, October 20th. The chip maker reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.60. The business had revenue of $19.19 billion for the quarter, compared to analysts’ expectations of $18.22 billion. Intel had a net margin of 26.89% and a return on equity of 28.74%. During the same quarter in the previous year, the business posted $1.11 earnings per share.

Several analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “sell” rating on shares of Intel in a report on Friday, October 22nd. BMO Capital Markets lowered Intel from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $60.00 to $52.00 in a research report on Tuesday, October 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on Intel from $58.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, October 22nd. Mizuho lowered Intel from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $55.00 in a research report on Friday, October 22nd. Finally, Susquehanna lowered their price objective on Intel from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, October 22nd. Eleven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $57.71.

NASDAQ:INTC opened at $55.70 on Friday. The stock has a market cap of $226.53 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 2.00 and a beta of 0.53. The firm’s fifty day simple moving average is $51.20 and its 200 day simple moving average is $52.87. Intel has a twelve month low of $47.87 and a twelve month high of $68.49. The company has a quick ratio of 1.74, a current ratio of 2.07 and a debt-to-equity ratio of 0.40.

In other news, Director Frank D. Yeary purchased 10,000 shares of the business’s stock in a transaction on Monday, October 25th. The stock was acquired at an average cost of $49.66 per share, for a total transaction of $496,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dion J. Weisler purchased 10,351 shares of the business’s stock in a transaction on Thursday, October 28th. The shares were purchased at an average price of $48.11 per share, with a total value of $497,986.61. The disclosure for this purchase can be found here. 0.02% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. CHICAGO TRUST Co NA grew its stake in shares of Intel by 0.3% during the 3rd quarter. CHICAGO TRUST Co NA now owns 75,736 shares of the chip maker’s stock valued at $4,035,000 after acquiring an additional 212 shares during the period. Greenwood Capital Associates LLC grew its stake in shares of Intel by 20.0% during the 3rd quarter. Greenwood Capital Associates LLC now owns 137,733 shares of the chip maker’s stock valued at $7,339,000 after acquiring an additional 22,975 shares during the period. Clearstead Advisors LLC grew its stake in shares of Intel by 1.7% during the 2nd quarter. Clearstead Advisors LLC now owns 157,399 shares of the chip maker’s stock valued at $8,836,000 after acquiring an additional 2,660 shares during the period. CIBC Asset Management Inc grew its stake in shares of Intel by 1.5% during the 3rd quarter. CIBC Asset Management Inc now owns 797,326 shares of the chip maker’s stock valued at $42,477,000 after acquiring an additional 11,468 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Intel during the 2nd quarter valued at approximately $1,642,000. Institutional investors and hedge funds own 61.94% of the company’s stock.

Intel Company Profile

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

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Earnings History and Estimates for Intel (NASDAQ:INTC)

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