Stock Update: EMC Corporation (NYSE:EMC) – Michael Dell to employees: Ignore media reports on EMC deal

[at American City Business Journals] – The CEO of Dell Inc. is urging employees of the Round Rock-based company ignore media reports that the proposed $67 billion acquisition of EMC Corp. is having trouble with its financing. Last week, according to a regulatory filing, Michael Dell told his employees the media was reporting developments to generate page views. Read more on this. EMC Corporation (EMC) , currently valued at $48.59B, opened this morning at $24.75. Looking at today’s trading action, the company’s one day range from $24.66 to $25.05 with the price of the stock fluctuating between $22.66 to $29.24 over the last 52 weeks. 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. And for dividend hunters, the company pays shareholders $0.46 per share annually in dividends, yielding 1.91%. According to a consensus of 29 analysts, the earnings estimate of $0.33 per share would be $0.02 better than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $1.87 is a $0.05 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.63 Billion. If reported, that would be a 0.36% increase over the year-ago quarter. More 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 15.23% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Stock Update: EMC Corporation (NYSE:EMC) – EMC exec predicts job growth after Dell merger Stock Update: EMC Corporation (NYSE:EMC) – Why Dell may have got a bargain with EMC Market Update: EMC Corporation (NYSE:EMC) – EMC deal would be stretch for Dell, analysts say