Emulex Co. (ELX) Releases Q1 Earnings Guidance
Emulex Co. (NYSE:ELX) issued an update on its first quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.07-0.11 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.06, Stock Ratings Network reports. The company issued revenue guidance of $93-99 million, compared to the consensus revenue estimate of $95.03 million.
Emulex Co. (NYSE:ELX) traded up 2.55% on Thursday, hitting $5.63. The stock had a trading volume of 1,692,004 shares. Emulex Co. has a one year low of $4.51 and a one year high of $8.33. The stock’s 50-day moving average is $5.50 and its 200-day moving average is $6.37. The company’s market cap is $454.0 million.
Emulex (NYSE:ELX) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $99.80 million for the quarter, compared to the consensus estimate of $96.65 million. During the same quarter last year, the company posted $0.15 earnings per share. Emulex’s revenue was down 17.1% compared to the same quarter last year. On average, analysts predict that Emulex Co. will post $0.52 earnings per share for the current fiscal year.
On a related note, analysts at Barclays downgraded shares of Emulex from an equal weight rating to an underweight rating in a research note on Monday. They now have a $6.00 price target on the stock, down previously from $7.00. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $6.67.
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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