Market Update (NYSE:EMC): New Report: Enterprises In All-Out Race to Transform IT

[PR Newswire] – EMC Corporation (EMC) and VMware (VMW) today released a joint State of IT Transformation report, an analysis of more than 660 EMC and VMware customers worldwide that are in the midst of IT transformation initiatives to help advance the digital business agendas of their organizations. More accurate than a survey of polled research subjects, it presents a qualified analysis of companies who participated in EMC IT Transformation and VMware Accelerate workshops and self-identified gaps, progress and target goals in their short- and long-term IT transformation initiatives. Read more on this. EMC Corporation (EMC) , with a current value of $50.88B, opened at $26.15. During the trading session, EMC traded between $26.14 to $26.23 and has traded between $22.66 and $28.77 over the past 12 months. EMC shares are currently priced at 14.03x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 7.41x forward p/e ratio. The company pays shareholders $0.46 per share annually in dividends, yielding 1.75%. Consensus earnings for the current quarter by the 29 sell-side analysts covering the stock is an estimate of $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’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.64 Billion. If realized, that would be a 0.53% 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 by the analysts covering the stock is $28.52, which is 9.06% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Market Update: EMC Corporation (NYSE:EMC) – Dell in talks to offload key assets, report says Market Update: EMC Corporation (NYSE:EMC) – New Study Reveals Hybrid Cloud Is The ‘Great Enabler’ of Digital Transformation Market Update (NYSE:EMC): RSA Archer® GRC Inspires Everyone to Own Risk Within the Enterprise