EMC Given Average Recommendation of “Buy” by Analysts (NYSE:EMC)
Shares of EMC (NYSE:EMC) have received an average rating of “Buy” from the eighteen brokerages that are presently covering the company, Stock Ratings News reports. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $31.39.
Shares of EMC (NYSE:EMC) opened at 28.91 on Monday. EMC has a 52 week low of $23.15 and a 52 week high of $29.90. The stock has a 50-day moving average of $27.60 and a 200-day moving average of $26.61. The company has a market cap of $58.649 billion and a price-to-earnings ratio of 23.78.
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. On average, analysts predict that EMC will post $1.92 earnings per share 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%. The ex-dividend date is Monday, September 29th.
Several analysts have recently commented on the stock. Analysts at FBR Capital Markets raised their price target on shares of EMC from $33.00 to $35.00 in a research note on Monday. They now have an “outperform” rating on the stock. 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 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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