Xyratex Rating Lowered to Neutral at Zacks (XRTX)
Xyratex (NASDAQ:XRTX) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, American Banking & Market News reports. They currently have a $11.10 target price on the stock. Zacks‘ price target would indicate a potential upside of 3.84% from the company’s current price.
Shares of Xyratex (NASDAQ:XRTX) traded down 0.52% during mid-day trading on Wednesday, hitting $10.6345. The stock had a trading volume of 44,514 shares. Xyratex has a 1-year low of $7.02 and a 1-year high of $12.29. The stock has a 50-day moving average of $10.68 and a 200-day moving average of $10.67. The company’s market cap is $293.1 million.
Xyratex (NASDAQ:XRTX) last announced its earnings results on Thursday, October 3rd. The company reported $0.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.03. The company had revenue of $217.30 million for the quarter, compared to the consensus estimate of $209.31 million. During the same quarter last year, the company posted $0.37 earnings per share. Xyratex’s revenue was down 21.1% compared to the same quarter last year. Analysts expect that Xyratex will post $0.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Investors of record on Thursday, October 17th will be given a dividend of $0.08 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, October 15th.
Xyratex Ltd. (NASDAQ:XRTX) is a provider of modular enterprise-class data storage subsystems and storage process technology.
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