Market Update (NASDAQ:INTC): Intel Makes Move to the Cloud Faster, Easier

[Business Wire] – Intel Corporation today announced a range of new technologies, investments and industry collaborations aimed at making it easier to deploy agile and scalable clouds so businesses can deliver new services faster and drive revenue growth. Read more on this. Intel Corporation (INTC) , currently valued at $153.27B, began trading this morning at $32.62. Looking at the equity, the company’s one day range is $32.38 to $32.66 with a trailing 52-week range being $24.87 to $35.59. Intel (INTC) shares are currently priced at 13.69x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 3.69x earnings multiple for the same period. The company pays shareholders $1.04 per share annually in dividends, yielding 3.26%. Consensus earnings for the current quarter by the 28 sell-side analysts covering the stock is an estimate of $0.49 per share, which would be $0.08 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $2.39, which would be a $0.06 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $13.94 Billion. If reported, that would be a 9.08% increase over the year-ago quarter. Recently, Bernstein downgraded INTC from Mkt Perform to Underperform (Mar 21, 2016). Previously, Robert W. Baird upgraded INTC from Neutral to Outperform. Investors should keep in mind is that the average price target is $35.94, which is 10.18% above where the stock opened this morning. See more in (NASDAQ:INTC) Similar Articles: Market Update: Intel Corporation (NASDAQ:INTC) – Intel reportedly spent $175 million on a startup that makes Matrix-like 3D videos Market Update: Intel Corporation (NASDAQ:INTC) – New Intel IoT Platform Makes More ‘Things’ Smart and Connected Company Update (NASDAQ:INTC): Intel Security Unveils New Strategy to Provide Better Protection, Faster Detection and Streamlined Correction