Market Update (NYSE:EMC): Revenue slides at Dell on weak hardware sales

[at American City Business Journals] – In one of the few peeks at its finances since the company was taken private in 2013, Round Rock-based Dell Inc. disclosed Monday that its revenue dropped 5.6 percent in the last fiscal year amid “a global decline in demand for desktops and notebooks.” The world’s No. 3 computer-maker reported revenue for the 12-month period ending Jan. 29, 2016, of $54.9 million, down from $58.1 million the previous year. The disclosure was made in a filing by Massachusetts-based EMC Corp. with the U.S. Securities and Exchange Commission. Dell is in the process of acquiring EMC(EMC) for $67 billion. Read more on this. EMC Corporation (EMC) , currently valued at $50.93B, opened this morning at $26.18. Looking at today’s trading action, the company’s one day range from $26.18 to $26.33 with its 52-week range being $22.66 to $28.77. Priced at 14.03x this year’s forecasted earnings, EMC shares are relatively expensive compared to the industry’s 7.41x forward p/e ratio. And for passive income investors, the company pays shareholders $0.46 per share annually in dividends, yielding 1.75%. 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 $0.02 sequential decrease. The full-year EPS estimate is $1.87, which would be a $0.05 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.64 Billion. If reported, that would be a 0.53% 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. When considering if perhaps the stock is under or overvalued, the average price target is $28.52, which is 8.94% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Market Update (NYSE:EMC): EXCLUSIVE – EU set to clear Dell’s $67 billion deal to buy EMC: sources Market Update: EMC Corporation (NYSE:EMC) – Dell in talks to offload key assets, report says Market Update (NYSE:EMC): Dell buying EMC in $67 billion bet on data storage