Published On: Mon, Sep 19th, 2016

Intel Corp. (INTC) Forecasted to Earn Q3 2016 Earnings of $0.73 Per Share

Intel Corp. (NASDAQ:INTC) – B. Riley increased their Q3 2016 EPS estimates for shares of Intel Corp. in a note issued to investors on Friday. B. Riley analyst C. Ellis now expects that the brokerage will earn $0.73 per share for the quarter, up from their prior estimate of $0.67. B. Riley currently has a “Buy” rating and a $45.00 target price on the stock. B. Riley also issued estimates for Intel Corp.’s Q4 2016 earnings at $0.71 EPS, FY2016 earnings at $2.57 EPS, Q2 2017 earnings at $0.72 EPS, Q3 2017 earnings at $0.82 EPS, Q4 2017 earnings at $0.81 EPS and FY2017 earnings at $3.00 EPS.
Intel Corp. (NASDAQ:INTC) last released its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share.
A number of other research analysts also recently commented on INTC. Royal Bank Of Canada reissued a “hold” rating on shares of Intel Corp. in a report on Saturday, July 9th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Intel Corp. in a report on Sunday, September 4th. Argus reaffirmed a “buy” rating and set a $41.00 target price on shares of Intel Corp. in a report on Monday, July 25th. Sanford C. Bernstein set a $31.00 target price on Intel Corp. and gave the stock a “hold” rating in a report on Thursday, July 21st. Finally, MKM Partners reaffirmed a “hold” rating and set a $40.00 target price (up previously from $39.00) on shares of Intel Corp. in a report on Friday, July 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $37.84.

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Intel Corp. (NASDAQ:INTC) opened at 37.67 on Monday. The firm has a market cap of $178.22 billion, a price-to-earnings ratio of 18.27 and a beta of 0.93. The stock has a 50 day moving average price of $35.26 and a 200-day moving average price of $32.70. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.05.
A number of institutional investors have recently made changes to their positions in the company. Pioneer Investment Management Inc. raised its position in shares of Intel Corp. by 98.3% in the fourth quarter. Pioneer Investment Management Inc. now owns 169,339 shares of the chip maker’s stock worth $5,834,000 after buying an additional 83,945 shares during the last quarter. Beacon Financial Group increased its position in Intel Corp. by 3,248.1% in the first quarter. Beacon Financial Group now owns 240,392 shares of the chip maker’s stock worth $7,863,000 after buying an additional 233,212 shares in the last quarter. Pensionfund DSM Netherlands increased its position in Intel Corp. by 4.1% in the first quarter. Pensionfund DSM Netherlands now owns 236,300 shares of the chip maker’s stock worth $7,644,000 after buying an additional 9,200 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in Intel Corp. by 5.3% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 118,499 shares of the chip maker’s stock worth $3,834,000 after buying an additional 5,913 shares in the last quarter. Finally, Hollencrest Securities LLC increased its position in Intel Corp. by 3.2% in the first quarter. Hollencrest Securities LLC now owns 72,054 shares of the chip maker’s stock worth $2,331,000 after buying an additional 2,211 shares in the last quarter. 64.77% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Brian M. Krzanich sold 71,413 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $32.73, for a total value of $2,337,347.49. Following the completion of the transaction, the chief executive officer now directly owns 435,796 shares of the company’s stock, valued at approximately $14,263,603.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is presently 50.24%.
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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