Stock Update (NYSE:EMC): EMC Announces New Extreme Archiving Platform for Structured and Unstructured Data

[PR Newswire] – LAS VEGAS, May 2, 2016 /PRNewswire/ — EMC WORLD 2016 News Summary: EMC ® InfoArchive™ 4.0 architecture enables extreme archiving scenarios with structured and unstructured data, and enhances the ability … Read more on this. EMC Corporation (EMC) , valued at $51.66B, started trading this morning at $26.14. During today’s session, EMC traded between $26.00 to $26.49 with its 52-week range being $22.66 to $28.77. Priced at 14.51x this year’s forecasted earnings, EMC shares are relatively expensive compared to the industry’s 10.23x forward p/e ratio. And for passive income investors, the company pays shareholders $0.46 per share annually in dividends, yielding 1.76%. According to a consensus of 27 analysts, the earnings estimate of $0.42 per share would be $0.01 worse than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.80 would be a $0.02 worse 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 $6.00 Billion. If realized, that would be a 1.15% decrease 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. The average price target for EMC shares by the analysts covering the stock is $28.71, which is 9.83% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Stock Update: EMC Corporation (NYSE:EMC) – EMC Corp. Announces 1Q16 Results, Earnings below Estimates Stock Update: EMC Corporation (NYSE:EMC) – NBC Olympics Selects EMC And Presidio To Provide Data Storage For Production Of 2016 Olympic Games In Rio Stock Update (NYSE:EMC): Japan’s NTT Data agrees to buy Dell’s IT services unit for $3 bln