Zacks Reiterates Neutral Rating for EMC (EMC)
EMC (NYSE:EMC)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Friday. They currently have a $28.00 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 4.32% from the stock’s previous close.
A number of other analysts have also recently weighed in on EMC. 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. 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. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $29.83.
EMC (NYSE:EMC) traded down 1.94% during mid-day trading on Friday, hitting $26.32. The stock had a trading volume of 13,516,156 shares. EMC has a 1-year low of $23.08 and a 1-year high of $28.26. The stock has a 50-day moving average of $26.2 and a 200-day moving average of $25.8. The company has a market cap of $53.885 billion and a price-to-earnings ratio of 21.25. EMC also was the recipient of a large drop in short interest in the month of May. As of May 30th, there was short interest totalling 34,011,090 shares, a drop of 10.5% from the May 15th total of 37,999,309 shares. Based on an average trading volume of 11,716,049 shares, the short-interest ratio is currently 2.9 days. Approximately 1.7% of the shares of the stock are short sold.
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. On average, analysts predict that EMC will post $1.91 earnings per share for the current fiscal year.
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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