Investors Purchase Large Volume of EMC Corp. Call Options (EMC)
Shares of EMC Corp. (NYSE:EMC) saw unusually large options trading activity on Tuesday. Stock traders acquired 10,996 call options on the stock, AnalystRatingsNetwork.com reports. This is an increase of approximately 179% compared to the average volume of 3,946 call options.
A number of analysts have recently weighed in on EMC shares. Analysts at Barclays Capital downgraded shares of EMC Corp. (NYSE:EMC) from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday. They now have a $28.00 price target on the stock, down previously from $29.00. Separately, analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. (NYSE:EMC) in a research note to investors on Friday. Finally, 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.
Seven equities research analysts have rated the stock with a hold rating and twenty-seven have given 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.
Shares of EMC Corp. (NYSE:EMC) traded down 1.30% on Tuesday, hitting $25.90. The stock had a trading volume of 26,696,000 shares. EMC Corp. has a 52 week low of $21.45 and a 52 week 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 $53.894 billion and a P/E ratio of 20.78.
EMC Corp. (NYSE:EMC) last released its earnings data 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 in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter 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 announced a quarterly dividend, which is scheduled for Wednesday, October 23rd. Investors 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 1.54%. 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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