Company Update (NASDAQ:MSFT): Microsoft doubles Vancouver, B.C., presence with new engineering center

[at American City Business Journals] – Microsoft on Friday announced the opening of a new Canadian engineering outpost that will more than double the company’s presence in Vancouver, B.C. The Redmond company (MSFT) will increase its Vancouver headcount to as many as 750 employees, up from 300. Most of Microsoft’s Vancouver employees are Canadian citizens, but the new center will help the company bring in skilled workers from around the world. Read more on this. Microsoft Corporation (MSFT) , with a current value of $393.15B, opened at $50.41. Looking at today’s market, MSFT one day range is $49.82 to $50.43 with a one year range of $39.72 to $56.85. MSFT shares are currently priced at 18.87x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 0.54x earnings multiple for the same period. And for income investors, the company pays shareholders $1.44 per share annually in dividends, yielding 2.87%. According to a consensus of 29 analysts, the earnings estimate of $0.58 per share would be $0.02 worse than the year-ago quarter and a $0.09 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $2.67 would be a $0.21 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $22.17 Billion. If reported, that would be a 0.05% decrease over the year-ago quarter. In terms of ratings, Macquarie Initiated MSFT at Neutral (Mar 4, 2016). Previously, Morgan Stanley upgraded MSFT from Equal-Weight to Overweight. The average price target for MSFT shares is $57.76, which is 14.58% above where the stock opened this morning. See more in (NASDAQ:MSFT) Similar Articles: Stock Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft Sues DoJ Over Data Request Order (MSFT) Stock Update: Microsoft Corporation (NASDAQ:MSFT) – Why Oppenheimer Sees Big Upside in Microsoft Now Company Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft’s underwater data center called its ‘most intriguing project’ in almost 40 years
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