Market Update (NASDAQ:INTC): Intel’s Data Center Outlook Good, Says Wells; Bears Shrug Off Xeon

[at Barrons.com] – Intel (INTC) on Thursday held a press conference, hosted by the head of its server group, Diane Bryant, in which it discussed new technologies to make it “easier, faster” to “move to the cloud.” The Street today is publishing its thoughts on the matter, which are largely positive. You can read the agenda for the press event on Intel’s Web site. Intel shares today are down two cents at $32.33. Read more on this. Intel Corporation (INTC) , valued at $152.75B, started trading this morning at $32.27. Looking at the equity, the company’s one day range is $32.10 to $32.47 with the price of the stock fluctuating between $24.87 to $35.59 over the last 52 weeks. INTC shares are currently priced at 13.59x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 1.42x earnings multiple for the same period. And for dividend hunters, 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 $0.48 per share, which would be $0.07 better than the year-ago quarter and a $0.02 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.38 is a $0.05 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $13.93 Billion. If reported, that would be a 9.00% increase over the year-ago quarter. In terms of ratings, Bernstein downgraded INTC from Mkt Perform to Underperform (Mar 21, 2016). Previously, Robert W. Baird upgraded INTC from Neutral to Outperform. The average price target for INTC shares is $35.94, which is 11.37% above where the stock opened this morning. See more in (NASDAQ:INTC) Similar Articles: Company Update: Intel Corporation (NASDAQ:INTC) – Intel (INTC) Stock: Canaccord Lowers Price Target on PC Supply Chain Data Points Market Update (NASDAQ:INTC): Intel (INTC) Stock Drops Despite Macquarie’s Bullish Remarks Company Update (NASDAQ:INTC): Intel-Altera Merger Adds $2 Bil To 2016 Sales Outlook