Stock Update: EMC Corporation (NYSE:EMC) – EMC Corp. Announces 1Q16 Results, Earnings below Estimates

[Market Realist] – On April 20, 2016, EMC Corp. (EMC) announced its 1Q16 results and reported revenues of $5.5 billion, a 2% decrease year-over-year. EMC ended the quarter with $15 billion in cash and investments. Read more on this. EMC Corporation (EMC) , with a current market cap of $51.55B, opened this morning at $26.45. Today’s price range has been between $26.29 and $26.51 per share with a trailing 52-week range being $22.66 to $28.77. EMC shares are currently priced at 14.71x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.18x forward p/e ratio. The company pays shareholders $0.46 per share annually in dividends, yielding 1.73%. In a review of the consensus earnings estimate this quarter, 27 sell-side analysts are looking at $0.42 per share, which would be $0.01 worse than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $1.80, which would be a $0.02 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.00 Billion. If reported, that would be a 1.15% decrease over the year-ago quarter. More recently, Raymond James downgraded EMC from Strong Buy to Outperform (Apr 7, 2016). Previously, Maxim Group upgraded EMC from Hold to Buy. Investors should keep in mind is that the average price target is $28.71, which is 8.54% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Market Update: EMC Corporation (NYSE:EMC) – EU clears Dell’s purchase of EMC Corp Stock Update: EMC Corporation (NYSE:EMC) – VMware Earnings Preview: Shareholders Uneasy Despite Expected Growth Stock Update: EMC Corporation (NYSE:EMC) – Gilman Law LLP Announces Class Action Lawsuits Against Board of Directors of EMC Corporation — EMC
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.