EMC Corp. Price Target Lowered to $28.00 at Mizuho (EMC)
Analysts at Mizuho reduced their target price on shares of EMC Corp. (NYSE:EMC) from $32.00 to $28.00 in a research report issued to clients and investors on Wednesday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Mizuho’s target price points to a potential upside of 18.29% from the stock’s previous close.
Shares of EMC Corp. (NYSE:EMC) traded down 1.54% on Wednesday, hitting $23.67. The stock had a trading volume of 52,462,484 shares. EMC Corp. has a 1-year low of $21.45 and a 1-year high of $28.18. The stock has a 50-day moving average of $26.34 and a 200-day moving average of $24.54. The company has a market cap of $49.254 billion and a price-to-earnings ratio of 19.03. EMC Corp. also saw unusually large options trading activity on Monday. Investors purchased 56,814 call options on the stock. This represents an increase of 458% compared to the typical volume of 10,180 call options.
EMC Corp. (NYSE:EMC) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.05. The company had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 4.9% 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 firms have also recently commented on EMC. Analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. in a research note to investors on Wednesday. Six equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. EMC Corp. currently has a consensus rating of “Buy” and an average target price of $29.54.
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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