Market Update: EMC Corporation (NYSE:EMC) – Dell to put EMC exec in big role after merger

[at American City Business Journals] – An EMC Corp. executive has been chosen to be the president of Dell Inc.’s services division after Dell completes its proposed $67 billion acquisition of EMC later this year. Howard Elias, EMC’s president and chief operating officer of enterprise services, will be Dell’s president of global services and information technology when the deal is completed, according to a Monday filing with the U.S. Securities and Exchange Commission. Elias joined Massachusetts-based EMC in 2003 after working for Hewlett-Packard Co. (HPQ), where he was senior vice president of business management and operations for the enterprise systems group, his online profile shows. Read more on this. EMC Corporation (EMC) , valued at $50.19B, started the session at $25.74. Looking at the equity, the company’s one day range is $25.74 to $26.01 with a one year range of $22.66 to $28.77. Priced at 13.91x this year’s forecasted earnings, EMC shares are relatively expensive compared to the industry’s 9.37x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.46 per share annually in dividends, yielding 1.79%. 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 $0.02 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 predicated on a consensus revenue forecast of $5.64 Billion. If reported, that would be a 0.53% increase over the year-ago quarter. In terms of ratings, Raymond James downgraded EMC from Strong Buy to Outperform (Apr 7, 2016). Previously, Maxim Group upgraded EMC from Hold to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $28.45, which is 10.53% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Company Update (NYSE:EMC): Only an ‘act of God’ could stop Dell merger, EMC exec says Stock Update (NYSE:EMC): RSA’s top exec on cyber threats, Dell-EMC merger and why he’s ditching ties Stock Update: EMC Corporation (NYSE:EMC) – EMC exec predicts job growth after Dell merger