Stock Update: EMC Corporation (NYSE:EMC) – EMC Corp appoints Goulden as CEO of storage division

EMC Corporation (NYSE:EMC) [Reuters] – EMC Corp has appointed David Goulden the chief executive officer of its storage or information infrastructure business, reporting to overall company chairman and CEO Joe Tucci. The elevation of the 11-year …
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EMC Corporation (EMC), valued at $52.20B, opened this morning at $25.55.
 
During today’s session, EMC traded between $25.22 to $25.62 and has traded between $21.45 and $27.34 over the past year.
 
Priced at 14.17x this year’s forecasted earnings, EMC shares are relatively inexpensive compared to the industry’s 17.68x forward p/e ratio.
 
And for income investors, the company pays shareholders $0.40 per share annually in dividends, yielding 1.60%.
 
In a review of the consensus earnings estimate this quarter, 39 sell-side analysts are looking at $0.60 per share, which would be $0.06 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $1.80 is a $0.10 better when compared to the previous year’s annual results.
 
The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.65 Billion. If reported, that would be a 10.28% increase over the year-ago quarter.
 
In terms of ratings, Monness Crespi & Hardt upgraded EMC from Neutral to Buy (Jan 30, 2013). Previously, William Blair downgraded EMC from Outperform to Mkt Perform.
 
Investors should keep in mind is that the average price target is $29.62, which is 15.93% above where the stock opened this morning.
 
EMC Corporation (NYSE:EMC), together with its subsidiaries, develops, delivers and supports information infrastructure and virtual infrastructure technologies, solutions and services. The company was founded in 1979 and is headquartered in Hopkinton, Massachusetts.
 
Tag Helper ~ Stock Code: EMC | Common Company name: EMC | Full Company name: EMC Corporation (NYSE:EMC) .

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