How Analysts Feel About Intel After Earnings
Investors did not initially have a favorable reaction to Intel's second-quarter financial results, despite earnings being more or less in line.
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.
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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.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
