EMC Corp.’s “Buy” Rating Reaffirmed at TheStreet (EMC)
EMC Corp. (NYSE:EMC)‘s stock had its “buy” rating reaffirmed by equities researchers at TheStreet in a research report issued on Friday, Analyst Ratings Network.com reports.
The analysts wrote, “EMC Corporation (EMC) has been reiterated by TheStreet Ratings as a buy with a ratings score of B+. The company’s strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.”
A number of other firms have also recently commented on EMC. Analysts at Cantor Fitzgerald initiated coverage on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Thursday. They set a “buy” rating and a $30.50 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Wednesday. They now have a $28.00 price target on the stock. Finally, 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 equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.76.
EMC Corp. (NYSE:EMC) traded down 0.54% during mid-day trading on Friday, hitting $26.795. The stock had a trading volume of 4,488,193 shares. EMC Corp. has a 52 week low of $21.45 and a 52 week high of $28.18. The stock has a 50-day moving average of $26.41 and a 200-day moving average of $24.65. The company has a market cap of $55.756 billion and a P/E ratio of 21.33.
EMC Corp. (NYSE:EMC) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.42 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.39 earnings per share. EMC Corp.’s revenue was up 5.7% compared to the same quarter last year. 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. Shareholders 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.
In other EMC Corp. news, COO David I. Goulden sold 35,000 shares of the stock on the open market in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $26.41, for a total transaction of $924,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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