Intel Corp. (NASDAQ: INTC) reported second-quarter financial results after the markets closed on Wednesday. This company is far and away a leader in the tech sector. However, investors did not initially have a favorable reaction to these earnings, despite their being more or less in line. Still, analysts poured into the stock, giving their two cents on the report.
24/7 Wall St. included highlights from the earnings report, as well as what analysts were saying about the stock after the fact.
Intel said that it had $0.59 in EPS on $13.5 billion in revenue for the quarter. Consensus estimates from Thomson Reuters had called for EPS of $0.53 and $13.54 billion in revenue. In the same period of last year, it posted $0.55 in EPS on revenue of $13.2 billion.
In terms of guidance for the third quarter, Intel expects to have a gross margin of 62% on revenues of $14.9 billion, versus consensus estimates of $0.64 in EPS on $14.63 billion in revenue.
After Intel reported earnings, analysts responded as follows:
- B. Riley has a Buy rating and raised its price target to $42.
- Bernstein raised its price target to $31 from $30.
- Goldman Sachs has a Neutral rating and raised its target to $34 from $33.
- Mizuho has a Buy rating and raised its price target to $38.
- Pacific Crest has an Overweight rating and raised its target from $37 to $38.
- BNP Paribas has a Neutral rating with a $37 price target.
- Oppenheimer reiterated a Market Perform rating.
- Morgan Stanley reiterated an Underweight rating with a $31 price target.
- MKM Partners has a Buy rating with a $40 price target.
- Deutsche reiterated a Buy rating, also with a $40 price target.
- Credit Suisse reiterated an Outperform rating with a $40 price target.
Shares of Intel closed most recently at $34.66. The stock has a consensus analyst price target of $37.02 and a 52-week trading range of $24.87 to $35.93.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
