Company Update: EMC Corporation (NYSE:EMC) – EMC qtrly revenue falls marginally

[Reuters] – Data storage products maker EMC Corp reported a marginal 0.5 percent fall in quarterly revenue due to lower sales in its traditional data-storage business and a strong dollar. Net income attributable to … Read more on this. EMC Corporation (EMC) , with a current value of $46.51B, began trading this morning at $23.79. Shares have traded today between $23.76 and $24.21 per share with a trailing 52-week range being $22.66 to $29.24. EMC shares are currently priced at 13.35x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 7.51x earnings multiple for the same period. The company pays shareholders $0.46 per share in dividend income per year, for a current yield of 1.88%. Consensus earnings for the current quarter by the 29 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 $0.00 sequential decrease. The full-year EPS estimate is $1.82, which would be a $0.08 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.12 Billion. If realized, that would be a 0.99% increase over the year-ago quarter. More recently, Wells Fargo downgraded EMC from Outperform to Market Perform (Nov 11, 2015). Previously, Stifel downgraded EMC from Buy to Hold. The average price target for EMC shares is $29.77, which is 25.14% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Company Update: EMC Corporation (NYSE:EMC) – Dell pushes ahead on megadeal as EMC investors get nervous Stock Update: EMC Corporation (NYSE:EMC) – EMC Stock Falls on Earnings Miss Company Update: EMC Corporation (NYSE:EMC) – Exclusive: Mass. health IT company takes over EMC building, plans to add 1,000 employees