Market Update: EMC Corporation (NYSE:EMC) – New Study Reveals Hybrid Cloud Is The ‘Great Enabler’ of Digital Transformation

[PR Newswire] – EMC Corporation (EMC) today announced the results of a new study showing that IT and business executives agree that digital transformation and the use of hybrid clouds are key to competitive success in the digital age. Conducted by IDG Research Services, the study reveals that organizations must “think digital” to enhance customer experiences, increase flexibility, drive business opportunities, and decrease costs. Read more on this. EMC Corporation (EMC) , valued at $46.26B, started the session at $24.05. A quick look at the market, the company’s stock traded between $23.79 and $24.12 with a trailing 52-week range being $22.66 to $29.24. Priced at 13.38x this year’s forecasted earnings, EMC shares are relatively expensive compared to the industry’s 7.89x forward p/e ratio. And for passive income investors, the company pays shareholders $0.46 per share annually in dividends, yielding 1.86%. According to a consensus of 29 analysts, the earnings estimate of $0.65 per share would be $0.04 worse than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $1.82 which would be a $0.08 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.13 Billion. If realized, that would be a 1.13% increase over the year-ago quarter. Recently, Wells Fargo downgraded EMC from Outperform to Market Perform (Nov 11, 2015). Previously, Stifel downgraded EMC from Buy to Hold. When considering if perhaps the stock is under or overvalued, the average price target is $29.81, which is 23.95% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Market Update: International Business Machines Corporation (NYSE:IBM) – CSC Embraces IBM Cloud to Accelerate Hybrid Cloud Adoption Market Update (NYSE:ORCL): Oracle Business Intelligence 12c Helps Organizations Boost Their Digital Transformation Through Agile Visual Analytics Company Update (NYSE:ACN): Improving Customer Experience is Top Business Priority for Companies Pursuing Digital Transformation, According to Accenture Study