Market Update: Microsoft Corporation (NASDAQ:MSFT) – Xbox chief apologizes after Microsoft hires half-naked dancers for event

[at American City Business Journals] – After Microsoft hired partially clothed dancers for an Xbox branded party, the division’s chief told employees the decision was “unequivocally wrong and will not be tolerated.” “How we represent ourselves as individuals, who we hire and partner with and how we engage with others is a direct reflection of our brand and what we stand for,” Phil Spencer wrote in an internal memo obtained by Business Insider. “When we do the opposite, and create an environment that alienates or offends any group, we justly deserve the criticism,” Xbox hired the dancers – dressed as school girls – as part of an after-hours party during a San Francisco-based conference for game developers Thursday. The gaming industry in particular has become a flash point for discussion of women in technology, women in gaming and the way male co-workers and gamers treat them. Read more on this. Microsoft Corporation (MSFT) , with a current market cap of $423.07B, opened this morning at $54.92. Today’s price range has been between $53.45 and $54.97 per share and has traded between $39.72 and $56.85 over the past year. Microsoft (MSFT) shares are currently priced at 19.80x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.79x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.44 per share annually in dividends, yielding 2.65%. In a review of the consensus earnings estimate this quarter, 29 sell-side analysts are looking at $0.64 per share, which would be $0.03 better than the year-ago quarter and a $0.04 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.76 is a $0.30 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 $22.10 Billion. If realized, that would be a 1.70% increase over the year-ago quarter. Recently, Macquarie Initiated MSFT at Neutral (Mar 4, 2016). Previously, Morgan Stanley upgraded MSFT from Equal-Weight to Overweight. Given all the information above, we should disclose to readers that the average price target is $58.73, which is 6.94% above than it opened this morning. See more in (NASDAQ:MSFT) Similar Articles: Stock Update: Microsoft Corporation (NASDAQ:MSFT) – What Is Sony’s Incentive To Play Nice With Microsoft For PS4-Xbox One Crossplay? Market Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft’s gaming boss explains its radical reinvention of the Xbox Stock Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft: Why You Should Be Buying An Xbox One This Holiday Season