EMC Receives Average Recommendation of “Buy” from Analysts (NYSE:EMC)
Shares of EMC (NYSE:EMC) have been given an average recommendation of “Buy” by the nineteen analysts that are presently covering the company, AnalystRatingsNetwork.com reports. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $31.17.
A number of research firms have recently commented on EMC. Analysts at FBR Capital Markets raised their price target on shares of EMC to $35.00 in a research note on Monday. Separately, analysts at Argus raised their price target on shares of EMC from $30.00 to $35.00 in a research note on Thursday, July 24th. They now have a “buy” rating on the stock. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of EMC in a research note on Thursday, July 24th. They now have a $34.00 price target on the stock, up previously from $31.00.
EMC (NYSE:EMC) traded up 0.54% on Monday, hitting $29.217. The stock had a trading volume of 2,621,153 shares. EMC has a one year low of $23.15 and a one year high of $29.90. The stock’s 50-day moving average is $27.33 and its 200-day moving average is $26.52. The company has a market cap of $59.281 billion and a P/E ratio of 23.82. EMC also was the recipient of unusually large options trading on Friday. Traders acquired 13,367 put options on the stock. This is an increase of approximately 295% compared to the average volume of 3,388 put options.
EMC (NYSE:EMC) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.96 by $0.53. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $160.80 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that EMC will post $1.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 23rd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.58%.
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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