Emulex Corp. (ELX) Updates Q1 Earnings Guidance
Emulex Corp. (NYSE:ELX) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.12-0.13 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.10, AmericanBankingNews.com reports. The company issued revenue guidance of $113-114 million, compared to the consensus revenue estimate of $111.65 million.
Several analysts have recently commented on the stock. Analysts at Lazard Capital Markets reiterated a buy rating on shares of Emulex Corp. in a research note to investors on Friday, September 20th. On a related note, analysts at Craig Hallum upgraded shares of Emulex Corp. from a hold rating to a buy rating in a research note to investors on Friday, September 20th. Finally, analysts at Barclays initiated coverage on shares of Emulex Corp. 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Emulex Corp. presently has an average rating of Hold and a consensus target price of $7.21.
Emulex Corp. (NYSE:ELX) opened at 7.83 on Tuesday. Emulex Corp. has a 52 week low of $5.72 and a 52 week high of $8.99. The stock has a 50-day moving average of $7.6 and a 200-day moving average of $7.0. The company’s market cap is $715.7 million.
Emulex Corp. (NYSE:ELX) last posted its quarterly earnings results 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 last year, the company posted $0.26 earnings per share. Emulex Corp.’s revenue was down 6.7% compared to the same quarter last year. On average, analysts predict that Emulex Corp. will post $0.54 earnings per share 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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