EMC Hits New 52-Week High at $30.13 (EMC)
EMC (NYSE:EMC) shares reached a new 52-week high during trading on Monday , Analyst Ratings Net reports. The company traded as high as $30.13 and last traded at $29.89, with a volume of 7,562,708 shares trading hands. The stock had previously closed at $29.73.
EMC has been the subject of a number of recent research reports. 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, August 4th. 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. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $31.39.
The stock’s 50-day moving average is $28.15 and its 200-day moving average is $26.75. The company has a market cap of $60.596 billion and a P/E ratio of 24.25.
EMC (NYSE:EMC) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.43 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.42 earnings per share. EMC’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that EMC will post $1.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 23rd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, September 29th.
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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