EMC Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:EMC)
EMC (NYSE:EMC) has been given a consensus rating of “Buy” by the seventeen brokerages that are presently covering the company, AnalystRatings.NET reports. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $29.82.
A number of analysts have recently weighed in on EMC shares. Analysts at Zacks reiterated a “neutral” rating on shares of EMC in a research note on Friday. They now have a $28.00 price target on the stock. Separately, 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.
Shares of EMC (NYSE:EMC) traded down 0.15% during mid-day trading on Monday, hitting $26.30. The stock had a trading volume of 2,565,248 shares. EMC has a 52-week low of $23.08 and a 52-week high of $28.26. The stock’s 50-day moving average is $26.27 and its 200-day moving average is $25.8. The company has a market cap of $53.844 billion and a P/E ratio of 20.86. EMC also was the target of a significant drop in short interest in 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 daily 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 sold short.
EMC (NYSE:EMC) last announced its earnings results on Wednesday, April 23rd. The company reported $0.35 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.39 earnings per share. EMC’s revenue was up 1.7% compared to the same quarter last year. Analysts expect that EMC will post $1.91 EPS 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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