RBC Capital Reiterates Sector Perform Rating for Microsoft Corp. (MSFT)
Microsoft Corp. (NASDAQ:MSFT)‘s stock had its “sector perform” rating reiterated by investment analysts at RBC Capital in a note issued to investors on Wednesday, AnalystRatings.Net reports. They currently have a $34.00 price objective on the stock. RBC Capital’s price target suggests a potential upside of 2.04% from the stock’s previous close.
Shares of Microsoft Corp. (NASDAQ:MSFT) traded up 1.18% on Wednesday, hitting $33.32. The stock had a trading volume of 64,102,096 shares. Microsoft Corp. has a 52 week low of $26.26 and a 52 week high of $36.43. The stock has a 50-day moving average of $32.32 and a 200-day moving average of $32.14. The company has a market cap of $277.6 billion and a P/E ratio of 12.76.
Microsoft Corp. (NASDAQ:MSFT) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.59 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.75 by $0.16. The company had revenue of $19.90 billion for the quarter, compared to the consensus estimate of $20.73 billion. During the same quarter last year, the company posted $0.73 earnings per share. Microsoft Corp.’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Microsoft Corp. will post $2.76 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Microsoft Corp. (NASDAQ:MSFT) in a research note to investors on Wednesday. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Microsoft Corp. (NASDAQ:MSFT) in a research note to investors on Friday, September 13th. Finally, analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Microsoft Corp. (NASDAQ:MSFT) in a research note to investors on Friday, September 13th.
Three equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $33.68.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, November 19th.
In other Microsoft Corp. news, SVP Lisa E. Brummel unloaded 64,238 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.32, for a total value of $2,076,172.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services.
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