Company Update (NYSE:EMC): Only an ‘act of God’ could stop Dell merger, EMC exec says

[at American City Business Journals] – Despite seeing its stock slump and the threat of a monster tax bill, EMC Corp. leaders are stressing their company’s $67 billion acquisition by Dell Inc. remains on course. Speaking Tuesday at a Goldman Sachs technology conference in San Francisco, EMC lead director William Green said the deal will be completed “unless an act of God happens,” according to Fortune magazine. Joe Tucci, EMC’s CEO, said Tuesday the two firms complement each other: The combined company’s 38,000 salespeople will bring in new customers while also selling Dell and EMC products to existing customers, Fortune reports. Read more on this. EMC Corporation (EMC) , with a current value of $47.70B, started trading this morning at $24.40. Looking at the stock, its one day range is $24.27 to $24.71 with the price of the stock fluctuating between $22.66 to $29.24 over the last 52 weeks. EMC shares are currently priced at 12.94x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 7.87x forward p/e ratio. And for income investors, the company pays shareholders $0.46 per share annually in dividends, yielding 1.87%. In a review of the consensus earnings estimate this quarter, 29 sell-side analysts are looking at $0.33 per share, which would be $0.02 better than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $1.87 which would be a $0.05 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.63 Billion. If realized, that would be a 0.36% increase over the year-ago quarter. More recently, Maxim Group upgraded EMC from Hold to Buy (Jan 28, 2016). Previously, Wells Fargo downgraded EMC from Outperform to Market Perform. Investors should keep in mind is that the average price target is $28.50, which is 16.80% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Stock Update (NYSE:EMC): RSA’s top exec on cyber threats, Dell-EMC merger and why he’s ditching ties Stock Update: EMC Corporation (NYSE:EMC) – EMC exec predicts job growth after Dell merger Stock Update: EMC Corporation (NYSE:EMC) – What Is the Risk-Reward Ratio in the EMC-Dell Merger?