Atlantic Securities Initiates Coverage on EMC Corp. (EMC)
Equities researchers at Atlantic Securities began coverage on shares of EMC Corp. (NYSE:EMC) in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating on the stock.
EMC Corp. (NYSE:EMC) traded down 0.71% during mid-day trading on Monday, hitting $25.14. 21,974,396 shares of the company’s stock traded hands. EMC Corp. has a one year low of $21.45 and a one year high of $27.34. The stock’s 50-day moving average is $24.32 and its 200-day moving average is $25.10. The company has a market cap of $51.734 billion and a price-to-earnings ratio of 20.26. EMC Corp. also was the recipient of unusually large options trading activity on Monday. Stock investors acquired 17,171 put options on the stock. This is an increase of 114% compared to the average volume of 8,031 put options.
EMC Corp. (NYSE:EMC) last released its 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 $1.80 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, January 23rd. Shareholders of record on Wednesday, January 8th will be given a dividend of 0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Monday, January 6th.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. in a research note to investors on Tuesday, January 7th. Separately, analysts at Thomson Reuters/Verus downgraded shares of EMC Corp. from a “buy” rating to a “hold” rating in a research note to investors on Monday, December 30th. Five equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.45.
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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