EMC Corp. Downgraded to “Equal Weight” at Barclays Capital (EMC)
EMC Corp. (NYSE:EMC) was downgraded by analysts at Barclays Capital from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, American Banking & Market News reports. They currently have a $28.00 target price on the stock. Barclays Capital’s target price points to a potential upside of 6.71% from the stock’s previous close.
EMC Corp. (NYSE:EMC) opened at 26.24 on Tuesday. EMC Corp. has a 1-year low of $21.45 and a 1-year high of $27.90. The stock has a 50-day moving average of $26.4 and a 200-day moving average of $24.70. The company has a market cap of $54.602 billion and a P/E ratio of 20.78.
EMC Corp. (NYSE:EMC) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the 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.
A number of other analysts have also recently weighed in on EMC. Analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Friday. Separately, analysts at Cantor Fitzgerald initiated coverage on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $30.50 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Wednesday, September 18th. They now have a $28.00 price target on the stock.
Seven investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. EMC Corp. has an average rating of “Buy” and an average target price of $29.76.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 23rd. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.52%. The ex-dividend date 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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