Market Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft Announces Surface Pro Power Cable Recall Program

[at Forbes] – Reports began circulating yesterday that Microsoft intended to launch a recall of Surface Pro power cords due to concerns about overheating. The rumor suggested that Microsoft would unveil the details of the program on Friday morning, but Microsoft beat that estimate by a day and announced the official recall program Read more on this. Microsoft Corporation (MSFT) , valued at $405.11B, opened at $51.18. Today’s price range has been between $50.31 and $51.58 per share and has traded between $39.72 and $56.85 over the past year. MSFT shares are currently priced at 18.40x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.46x earnings multiple. And for income investors, the company pays shareholders $1.44 per share annually in dividends, yielding 2.85%. According to a consensus of 28 analysts, the earnings estimate of $0.71 per share would be $0.00 worse than the year-ago quarter and a $0.01 sequential decrease. Investors should also note that the full-year EPS estimate of $2.76 is a $0.30 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $25.26 Billion. If reported, that would be a 4.57% decrease over the year-ago quarter. Recently, Morgan Stanley upgraded MSFT from Equal-Weight to Overweight (Jan 13, 2016). Previously, BMO Capital Markets Initiated MSFT at to Outperform. Given all the information above, we should disclose to readers that the average price target is $58.00, which is 13.33% above than it opened this morning. See more in (NASDAQ:MSFT) Similar Articles: Market Update (NASDAQ:MSFT): A Microsoft Surface Phone Will Not Be Enough Market Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft’s first-ever laptop Surface Book sells out before launch Company Update: Microsoft Corporation (NASDAQ:MSFT) – Why the Microsoft Surface Pro 4 Could Be a Huge Leap Forward