Barclays Capital Initiates Coverage on Emulex Corp. (ELX)
Stock analysts at Barclays Capital began coverage on shares of Emulex Corp. (NYSE:ELX) in a report issued on Wednesday, American Banking and Market News reports. The firm set an “equal weight” rating on the stock.
Emulex Corp. (NYSE:ELX) opened at 7.62 on Wednesday. Emulex Corp. has a 52 week low of $5.72 and a 52 week high of $8.99. The stock has a 50-day moving average of $7.6 and a 200-day moving average of $6.87. The company’s market cap is $696.5 million.
Emulex Corp. (NYSE:ELX) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.02. The company had revenue of $120.40 million for the quarter, compared to the consensus estimate of $119.74 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. On average, analysts predict that Emulex Corp. will post $0.54 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ELX. Analysts at RBC Capital raised their price target on shares of Emulex Corp. (NYSE:ELX) from $7.00 to $8.00 in a research note to investors on Friday, August 9th. They now have a “sector perform” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Emulex Corp. (NYSE:ELX) from $6.00 to $7.00 in a research note to investors on Friday, August 9th. They now have a “market perform” rating on the stock. Finally, analysts at Lazard Capital Markets reiterated a “neutral” rating on shares of Emulex Corp. (NYSE:ELX) in a research note to investors on Friday, August 9th.
One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $7.21.
Emulex Corporation (NYSE:ELX) is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center.
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