In the latest trading session, Intel (INTC) closed at $22.31, marking a -1.54% move from previous day. This change lagged the S&P 500’s daily gain of 0.47%. Elsewhere, the Dow Jones Industrial Average rose 0.79%, while the tech-heavy Nasdaq rose 0.28%.
Shares of the world’s largest chip maker rose 5.54% from the previous month, outpacing the Computer Technology sector’s 3.88% rise and the S&P 500’s 3.48% rise.
The investment community will be closely monitoring Intel’s performance in its upcoming earnings report. The company is scheduled to report its financial results on October 31, 2024. In that report, analysts expect Intel to post earnings per share of -$0.03. This is a decrease of 107.32% compared to the previous year. Our most recent consensus estimate is calling for quarterly revenue of $13.01 billion, down 8.1% from the year-ago period.
For the full fiscal year, our Zacks Consensus Estimates are projecting earnings of $0.27 per share and revenue of $52.18 billion, which would represent changes of -74.29% and -3.78%, respectively, from the prior year. Masu.
Additionally, investors should note any recent revisions to analyst estimates for Intel. These revisions help illustrate the ever-changing nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Empirical research shows that these estimate revisions are directly correlated with impending stock movements. To benefit from this, we have created the Zacks Rank, a proprietary model that combines these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 ranked stocks having an average annual return of +25% since 1988. is produced. Over the past 30 days, the Zacks Consensus EPS estimate has moved 0.75% lower. Intel currently sports a Zacks Rank #4 (Sell).
From a valuation perspective, Intel is currently trading at a Forward P/E ratio of 84.76. This is a premium compared to its industry’s average Forward P/E of 24.35.
Meanwhile, INTC’s PEG ratio is currently 6.98. This popular metric is similar to the widely-known P/E ratio, except that the PEG ratio also takes into account the company’s expected earnings growth rate. Semiconductor – Common Stocks has an average PEG ratio of 3.83 based on yesterday’s closing price.
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Semiconductors – General Industries is part of the Computer and Technology sector. Its current Zacks Industry Rank of 183 puts this industry in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2:1.
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