Intel Stock Down Ahead of Q1 Earnings Report

INTC's post-earnings price history has been mostly negative

by Jake Scott

Published on Apr 23, 2020 at 3:22 PM
Updated on Jun 24, 2020 at 10:16 AM

The shares of Dow component Intel Corporation (NASDAQ:INTC) are down 1.4%, to trade at $59.30 this afternoon, just ahead of the firm's first-quarter earnings report, which is due out after today’s close. Below, we'll dig into how INTC has fared after past quarterly earnings reports, and take a look at the sentiment currently surrounding the stock. 

On the charts, INTC is testing its footing just above its 100-day moving average --a trendline the equity has been dancing around since its early April bull gap. The stock is also pushing back up against its year-to-date breakeven, with just a little over a month's distance from its nine-month low of $43.63.

INTC Chart April 23

Sentiment surrounding the blue chip is mostly lukewarm. Of the 28 analysts in coverage, 14 consider it a "hold," while four say "strong sell."  Mirroring this is the equity’s consensus 12-month target price of $63.38, which is a conservative 3.2% premium to the stock’s current levels.

In the options pits, Intel’s 10-day call/put volume ratio of 2.74 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits in the 94th of its annual range. This suggests a healthier-than-usual appetite for long calls of late.

History shows that Intel stock has been mostly negative following its earnings reports over the past two years. Of the last eight next-day sessions, just three were positive, though INTC enjoyed a post-earnings pop of 8.1% during each of its last two reports. This time around, the options pits are pricing in an 8.7% shift, which is slightly higher than the 5.5% swing the security averaged during these last eight sessions, regardless of direction. 


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