Company Update (NYSE:EMC): EMC Announces Cost of Job Cuts in Advance of Dell Takeover

[at Bloomberg] – EMC Corp., the data-storage equipment company being acquired by Dell Inc. for about $67 billion in the biggest technology deal ever, said its previously announced job cuts would result in an estimated … Read more on this. EMC Corporation (EMC) , with a current value of $49.79B, began trading this morning at $25.62. Looking at the stock, its one day range is $25.58 to $25.87 with the price of the stock fluctuating between $22.66 to $30.05 over the last 52 weeks. Priced at 14.13x this year’s forecasted earnings, EMC shares are relatively expensive compared to the industry’s 7.99x forward p/e ratio. And for income investors, the company pays shareholders $0.46 per share annually in dividends, yielding 1.77%. Consensus earnings for the current quarter by the 28 sell-side analysts covering the stock is an estimate of $0.65 per share, which would be $0.04 worse than the year-ago quarter and a $0.03 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $1.82, which would be a $0.08 setback when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.14 Billion. If realized, that would be a 1.28% increase over the year-ago quarter. In terms of ratings, Wells Fargo downgraded EMC from Outperform to Market Perform (Nov 11, 2015). Previously, Stifel downgraded EMC from Buy to Hold. Given all the information above, we should disclose to readers that the average price target is $29.80, which is 16.32% above than it opened this morning. See more in (NYSE:EMC) Similar Articles: Company Update (NYSE:EMC): Dell-EMC deal threatened by possible $9 billion tax bill: Re/code Stock Update: EMC Corporation (NYSE:EMC) – Why Dell may have got a bargain with EMC Market Update (NYSE:EMC): Dell buying EMC in $67 billion bet on data storage