Emulex Corp. Rating Reiterated by Lazard Capital Markets (ELX)
Emulex Corp. (NYSE:ELX)‘s stock had its “buy” rating restated by equities research analysts at Lazard Capital Markets in a research note issued to investors on Friday, AnalystRatings.Net reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Craig Hallum upgraded shares of Emulex Corp. (NYSE:ELX) from a “hold” rating to a “buy” rating in a research note to investors on Friday. Separately, analysts at Barclays Capital initiated coverage on shares of Emulex Corp. (NYSE:ELX) in a research note to investors on Wednesday, September 11th. They set an “equal weight” rating and a $8.00 price target on the stock. Finally, 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.
One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.21.
Emulex Corp. (NYSE:ELX) traded up 2.02% on Friday, hitting $8.10. 328,179 shares of the company’s stock traded hands. Emulex Corp. has a 1-year low of $5.72 and a 1-year high of $8.99. The stock has a 50-day moving average of $7.6 and a 200-day moving average of $6.93. The company’s market cap is $740.4 million.
Emulex Corp. (NYSE:ELX) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Emulex Corp. will post $0.54 EPS for the current fiscal year.
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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