EMC Corp. Sees Unusually High Options Volume (EMC)
EMC Corp. (NYSE:EMC) was the recipient of unusually large options trading on Monday. Stock traders acquired 17,171 put options on the company, AmericanBankingNews.com reports. This represents an increase of approximately 114% compared to the typical volume of 8,031 put options.
A number of research firms have recently commented on EMC. Analysts at Atlantic Securities initiated coverage on shares of EMC Corp. in a research note to investors on Monday. They set an “overweight” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. in a research note to investors on Tuesday, January 7th. Finally, 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 analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. EMC Corp. has a consensus rating of “Buy” and a consensus target price of $29.45.
EMC Corp. (NYSE:EMC) traded down 0.71% during mid-day trading on Monday, hitting $25.14. The stock had a trading volume of 21,973,596 shares. EMC Corp. has a 52-week low of $21.45 and a 52-week high of $27.34. The stock’s 50-day moving average is $24.29 and its 200-day moving average is $25.06. The company has a market cap of $51.734 billion and a P/E ratio of 20.26.
EMC Corp. (NYSE:EMC) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.40 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.40 earnings per share. EMC Corp.’s revenue was up 4.9% compared to the same quarter last year. 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.
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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