Evercore Partners Increases Microsoft Corp. Price Target to $40.00 (MSFT)
Stock analysts at Evercore Partners hoisted their price objective on shares of Microsoft Corp. (NASDAQ:MSFT) from $38.00 to $40.00 in a report issued on Friday, Analyst Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. Evercore Partners’ target price would indicate a potential upside of 11.95% from the stock’s previous close.
In other Microsoft Corp. news, EVP Anthony John Bates sold 43,984 shares of the company’s stock on the open market in a transaction dated Thursday, October 17th. The shares were sold at an average price of $34.88, for a total transaction of $1,534,161.92. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Microsoft Corp. (NASDAQ:MSFT) opened at 35.73 on Friday. Microsoft Corp. has a 1-year low of $26.26 and a 1-year high of $36.43. The stock’s 50-day moving average is $32.27 and its 200-day moving average is $32.03. The company has a market cap of $297.6 billion and a P/E ratio of 13.07. Microsoft Corp. also was the target of unusually large options trading activity on Wednesday. Stock investors acquired 118,502 call options on the company. This represents an increase of 115% compared to the average daily volume of 55,055 call options.
Microsoft Corp. (NASDAQ:MSFT) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.07. The company had revenue of $18.53 billion for the quarter, compared to the consensus estimate of $17.83 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts expect that Microsoft Corp. will post $2.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, November 19th. This is a boost from Microsoft Corp.’s previous quarterly dividend of $0.23.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of Microsoft Corp. from $35.00 to $36.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Separately, analysts at Credit Agricole raised their price target on shares of Microsoft Corp. from $38.00 to $39.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Microsoft Corp. from $41.00 to $44.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have given a buy rating to the stock. Microsoft Corp. presently has a consensus rating of “Hold” and a consensus target price of $34.58.
Microsoft Corporation is engaged in developing, licensing and supporting a range of software products and services.
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