Intel is due to report second-quarter earnings on Thursday evening after the market closes. Here is a snapshot of Wall Street’s expectations and some recent history. • Intel stock (INTC) has risen about 10% this year, underperforming the S&P 500 index, which has gained nearly 19%, and the Nasdaq Composite, which has rallied roughly 24%. • The company is expected to generate adjusted earnings per share of 89 cents for the second quarter, compared with $1.04 in the year-earlier quarter. Analysts also estimate sales of $15.7 billion for the quarter that ended in June. • Intel’s first-quarter adjusted earnings of 89 cents, reported in April, topped expectations of 87 cents, but the company gave weaker-than-expected sales guidance of $69 billion for the full year, short of the $71 billion consensus estimate at the time. • On Tuesday, Benchmark analyst Ruben Roy initiated coverage on Intel shares with a Hold rating, citing increasing competition from Advanced Micro Devices (AMD) . “We think that medium-term upside catalysts to INTC shares may be limited due to increasing competitive pressures and the uncertain macro environment,” he wrote. • Other Wall Street analysts are mixed on Intel stock; 34% have a Buy or equivalent rating and 41% have a Hold rating, according to FactSet. Their average price target is $51.79. Intel’s earnings conference call is scheduled for 5 p.m. E.T. on Thursday. Write to Tae Kim at tae,[email protected]
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