Emulex Receives Consensus Recommendation of “Hold” from Brokerages (NYSE:ELX)
Emulex (NYSE:ELX) has been given a consensus rating of “Hold” by the sixteen ratings firms that are covering the stock, Stock Ratings Network reports. Four equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.15.
A number of research firms have recently commented on ELX. Analysts at Davidson downgraded shares of Emulex to an “underperform” rating in a research note on Friday, May 2nd. Separately, analysts at Summit Research downgraded shares of Emulex from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, analysts at DA Davidson downgraded shares of Emulex from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 1st. They now have a $5.00 price target on the stock, down previously from $10.00.
Shares of Emulex (NYSE:ELX) opened at 5.47 on Wednesday. Emulex has a 52-week low of $4.51 and a 52-week high of $8.99. The stock has a 50-day moving average of $5.59 and a 200-day moving average of $6.85. The company’s market cap is $441.1 million.
Emulex (NYSE:ELX) last announced its earnings results on Wednesday, April 30th. The company reported $0.15 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.15. The company had revenue of $109.70 million for the quarter, compared to the consensus estimate of $112.95 million. On average, analysts predict that Emulex will post $0.52 earnings per share for the current fiscal year.
Emulex Corporation (NYSE:ELX) is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center.
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