EMC Corp. Target of Unusually High Options Trading (EMC)
Shares of EMC Corp. (NYSE:EMC) was the recipient of some unusual options trading on Wednesday. Stock traders bought 11,807 put options on the stock, Analyst Ratings.Net reports. This represents an increase of approximately 421% compared to the average volume of 2,267 put options.
In other EMC Corp. news, COO David I. Goulden sold 35,000 shares of the stock on the open market in a transaction dated Monday, September 9th. The stock was sold at an average price of $26.41, for a total transaction of $924,350.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
EMC has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Monday, August 19th. Separately, analysts at Brean Capital reiterated a “buy” rating on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Monday, August 19th. They now have a $31.00 price target on the stock.
Six analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. EMC Corp. currently has an average rating of “Buy” and a consensus target price of $29.57.
EMC Corp. (NYSE:EMC) traded up 0.07% during mid-day trading on Wednesday, hitting $26.99. The stock had a trading volume of 18,608,304 shares. EMC Corp. has a one year low of $21.45 and a one year high of $28.18. The stock has a 50-day moving average of $26.28 and a 200-day moving average of $24.48. The company has a market cap of $56.162 billion and a price-to-earnings ratio of 21.35.
EMC Corp. (NYSE:EMC) last announced its earnings results on Wednesday, July 24th. The company reported $0.42 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.42. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that EMC Corp. will post $1.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 23rd. Investors of record on Tuesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, September 27th.
EMC Corporation (NYSE:EMC), and its subsidiaries develop, deliver and support the Information Technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services.
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