Market Update: EMC Corporation (NYSE:EMC) – Dell in talks to offload key assets, report says

[at American City Business Journals] – Dell Inc. is in negotiations to sell Perot Systems Corp. to NTT Data Corp. of Japan, Reuters reports. Round Rock-based Dell is trying to sell the IT consulting business to raise money to fund its $67 billion buyout of Massachusetts-based EMC Corp. Dell has asked for $5 billion for Perot Systems but worldwide market jitters appear to have dampened companies’ appetite for tech acquisitions. A previous suitor, Atos SE of France, has dropped out of contention, the news agency says, after nearly buying Perot Systems for $4.2 billion. Read more on this. EMC Corporation (EMC) , currently valued at $48.02B, began trading this morning at $24.28. Shares have traded today between $24.28 and $24.72 per share with a trailing 52-week range being $22.66 to $29.24. EMC (EMC) shares are currently priced at 12.92x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 5.51x earnings multiple for the same period. The company pays shareholders $0.46 per share annually in dividends, yielding 1.91%. In a review of the consensus earnings estimate this quarter, 29 sell-side analysts are looking at $0.33 per share, which would be $0.02 better than the year-ago quarter and a $0.03 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.87 would be a $0.05 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.63 Billion. If realized, that would be a 0.36% increase over the year-ago quarter. Recently, Maxim Group upgraded EMC from Hold to Buy (Jan 28, 2016). Previously, Wells Fargo downgraded EMC from Outperform to Market Perform. The average price target for EMC shares is $28.52, which is 17.46% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Market Update: EMC Corporation (NYSE:EMC) – Dell acquisition target EMC to cut jobs in Q1 Stock Update: EMC Corporation (NYSE:EMC) – EMC exec predicts job growth after Dell merger Market Update: EMC Corporation (NYSE:EMC) – EMC deal would be stretch for Dell, analysts say
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