EMC Corp. Rating Reiterated by TheStreet (EMC)
EMC Corp. (NYSE:EMC)‘s stock had its “positive” rating reiterated by investment analysts at TheStreet in a note issued to investors on Monday, StockRatingsNetwork.com reports.
The analysts wrote, “EMC Corporation (EMC) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
In other EMC Corp. news, EVP Harry You sold 41,003 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $24.94, for a total transaction of $1,022,614.82. Following the completion of the sale, the executive vice president now directly owns 230,436 shares of the company’s stock, valued at approximately $5,747,074. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
EMC has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of EMC Corp. in a research note on Thursday, January 30th. They now have a $26.00 price target on the stock. Separately, analysts at Mizuho downgraded shares of EMC Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 29th. They now have a $27.00 price target on the stock, down previously from $30.00. They noted that the move was a valuation call. Finally, analysts at Argus reiterated a “buy” rating on shares of EMC Corp. in a research note on Friday, January 17th. They now have a $30.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. EMC Corp. presently has a consensus rating of “Buy” and a consensus target price of $29.52.
EMC Corp. (NYSE:EMC) opened at 25.48 on Monday. 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 $25.20 and a 200-day moving average of $25.07. The company has a market cap of $51.470 billion and a P/E ratio of 19.17.
EMC Corp. (NYSE:EMC) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that EMC Corp. will post $1.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 23rd. Investors of record on Tuesday, April 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, March 28th.
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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