EMC Sees Large Decrease in Short Interest (EMC)
EMC (NYSE:EMC) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 37,924,647 shares, a decrease of 29.3% from the March 31st total of 53,659,341 shares, ARN reports. Approximately 1.9% of the company’s stock are sold short. Based on an average trading volume of 16,642,795 shares, the short-interest ratio is presently 2.3 days.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC initiated coverage on shares of EMC in a research note on Thursday, April 24th. They set a “buy” rating and a $30.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of EMC in a research note on Wednesday, April 16th. They now have a $28.00 price target on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of EMC in a research note on Thursday, April 10th. They set a “buy” rating and a $32.00 price target on the stock. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $29.83.
Shares of EMC (NYSE:EMC) opened at 25.21 on Friday. EMC has a 52-week low of $22.69 and a 52-week high of $28.26. The stock has a 50-day moving average of $26.71 and a 200-day moving average of $25.35. The company has a market cap of $51.612 billion and a price-to-earnings ratio of 20.02.
EMC (NYSE:EMC) last released its earnings data on Wednesday, April 23rd. The company reported $0.35 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.35. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that EMC will post $1.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 23rd. Investors of record on Tuesday, July 1st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from EMC’s previous quarterly dividend of $0.10.
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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