EMC Corp. Price Target Lowered to $30.00 at Lazard Capital Markets (EMC)
Lazard Capital Markets reduced their price target on shares of EMC Corp. (NYSE:EMC) to $30.00 in a research note issued on Wednesday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Lazard Capital Markets’ target price points to a potential upside of 24.79% from the company’s current price.
A number of other firms have also recently commented on EMC. Analysts at Mizuho cut their price target on shares of EMC Corp. from $32.00 to $28.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. in a research note to investors on Wednesday. Finally, analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. in a research note to investors on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. EMC Corp. presently has an average rating of “Buy” and an average price target of $29.54.
EMC Corp. (NYSE:EMC) traded down 1.62% on Wednesday, hitting $23.65. 27,006,436 shares of the company’s stock traded hands. EMC Corp. has a 1-year low of $21.45 and a 1-year high of $28.18. The stock’s 50-day moving average is $26.34 and its 200-day moving average is $24.54. The company has a market cap of $49.212 billion and a P/E ratio of 19.03. EMC Corp. also saw unusually large options trading on Monday. Stock traders acquired 56,814 call options on the stock. This is an increase of approximately 458% compared to the average daily volume of 10,180 call options.
EMC Corp. (NYSE:EMC) last posted its quarterly earnings results 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. On average, analysts predict that EMC Corp. will post $1.86 earnings per share for the current fiscal year.
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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