$19.01 Billion in Sales Expected for Intel Co. (INTC) This Quarter

Wall Street brokerages expect Intel Co. (NASDAQ:INTC) to announce sales of $19.01 billion for the current fiscal quarter, according to Zacks. Thirteen analysts have provided estimates for Intel’s earnings, with the highest sales estimate coming in at $19.09 billion and the lowest estimate coming in at $18.97 billion. Intel reported sales of $17.05 billion during the same quarter last year, which would suggest a positive year over year growth rate of 11.5%. The firm is expected to issue its next earnings report on Thursday, January 24th.

On average, analysts expect that Intel will report full year sales of $71.20 billion for the current financial year, with estimates ranging from $71.16 billion to $71.29 billion. For the next financial year, analysts anticipate that the firm will report sales of $73.45 billion, with estimates ranging from $71.33 billion to $77.36 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Intel.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.25. The company had revenue of $19.16 billion during the quarter, compared to analyst estimates of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%.

INTC has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $68.00 target price on shares of Intel in a research note on Monday, October 1st. MKM Partners lowered their target price on shares of Intel to $58.00 and set a “buy” rating for the company in a research note on Friday, August 24th. BidaskClub lowered shares of Intel from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Raymond James lowered shares of Intel from a “market perform” rating to an “underperform” rating in a research note on Tuesday, September 25th. Finally, Northland Securities raised shares of Intel from an “under perform” rating to a “market perform” rating in a research report on Thursday, September 13th. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.47.

Shares of INTC stock opened at $49.31 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35. The stock has a market cap of $223.16 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.25 and a beta of 0.88. Intel has a 1-year low of $42.04 and a 1-year high of $57.60.

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 issued a $0.30 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.20 annualized dividend and a yield of 2.43%. Intel’s dividend payout ratio (DPR) is 34.68%.

Intel announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 15th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the chip maker to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

In related news, EVP Steven Ralph Rodgers sold 2,235 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the sale, the executive vice president now owns 30,324 shares of the company’s stock, valued at $1,384,593.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the sale, the vice president now directly owns 14,271 shares in the company, valued at approximately $649,758.63. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of INTC. Quad Cities Investment Group LLC acquired a new stake in Intel during the second quarter worth approximately $107,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Intel by 375.2% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock worth $120,000 after acquiring an additional 2,000 shares during the last quarter. Ironwood Financial llc grew its position in shares of Intel by 429.0% during the third quarter. Ironwood Financial llc now owns 2,645 shares of the chip maker’s stock worth $125,000 after acquiring an additional 2,145 shares during the last quarter. WP Advisors LLC purchased a new position in shares of Intel during the second quarter worth approximately $137,000. Finally, Well Done LLC purchased a new position in shares of Intel during the first quarter worth approximately $156,000. 64.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

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