EMC Corp. Now Covered by Analysts at Macquarie (EMC)
Investment analysts at Macquarie started coverage on shares of EMC Corp. (NYSE:EMC) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Shares of EMC Corp. (NYSE:EMC) traded up 2.39% on Tuesday, hitting $25.74. 30,256,966 shares of the company’s stock traded hands. EMC Corp. has a 1-year low of $21.45 and a 1-year high of $27.34. The stock has a 50-day moving average of $24.3 and a 200-day moving average of $25.11. The company has a market cap of $52.969 billion and a P/E ratio of 20.11. EMC Corp. also was the recipient of unusually large options trading activity on Monday. Stock traders acquired 17,171 put options on the company. This represents an increase of 114% compared to the typical daily volume of 8,031 put options.
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. On average, analysts predict that EMC Corp. will post $1.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, January 23rd. Stockholders of record on Wednesday, January 8th will be paid a dividend of 0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, January 6th.
Other equities research analysts have also recently issued reports about the stock. 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. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. EMC Corp. has an average rating of “Buy” and a consensus price target 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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