Market Update (NASDAQ:INTC): Intel (INTC) Stock Drops Despite Macquarie’s Bullish Remarks

[at TheStreet] – Intel (INTC) stock was upgraded by analysts at Macquarie Research who see shares making a come back this year. Read more on this. Intel Corporation (INTC) , valued at $141.38B, began trading this morning at $30.06. Looking at the stock, its one day range is $29.79 to $30.22 and has traded between $24.87 and $36.30 over the past year. Intel (INTC) shares are currently priced at 12.26x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 8.77x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $0.96 per share annually in dividends, yielding 3.21%. Consensus earnings for the current quarter by the 31 sell-side analysts covering the stock is an estimate of $0.50 per share, which would be $0.09 better than the year-ago quarter and a $0.01 sequential increase. What we find to be interesting is that the full-year EPS estimate of $2.44 is a $0.11 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $14.08 Billion. If reported, that would be a 10.17% increase over the year-ago quarter. In terms of ratings, Macquarie upgraded INTC from Neutral to Outperform (Jan 25, 2016). Previously, Sun Trust Rbsn Humphrey Initiated INTC at to Neutral. The average price target for INTC shares by the analysts covering it is $36.44, which is 21.22% above where the stock opened. See more in (NASDAQ:INTC) Similar Articles: Market Update: Intel Corporation (NASDAQ:INTC) – The 2016 Bullish and Bearish Case for Intel Market Update: Intel Corporation (NASDAQ:INTC) – Intel (INTC) Stock Up on Regulatory Approval of $16.7 Billion Altera Deal Stock Update: Intel Corporation (NASDAQ:INTC) – Intel (INTC) Stock Down as RBC Initiates Coverage