Market Update: EMC Corporation (NYSE:EMC) – New EMC Open Source Tool Opens Massive Possibilities for Simple App Deployment to the Cloud and IoT Devices

[PR Newswire] – SANTA CLARA, Calif., May 24, 2016 /PRNewswire/ — Cloud Foundry Summit 2016 News Highlights: EMC announces release of UniK (pronounced you-neek ), an open source orchestration tool designed to bring unikernel … Read more on this. EMC Corporation (EMC) , valued at $54.44B, started trading this morning at $27.73. Today, shares have traded between $27.65 and $27.89 per share with the price of the stock fluctuating between $22.66 to $28.77 over the last 52 weeks. EMC shares are currently priced at 15.39x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.19x earnings multiple for the same period. The company pays shareholders $0.46 per share annually in dividends, yielding 1.65%. Consensus earnings for the current quarter by the 27 sell-side analysts covering the stock is an estimate of $0.42 per share, which would be $0.01 worse than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $1.80 is 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. More recently, Raymond James downgraded EMC from Strong Buy to Outperform (Apr 7, 2016). Previously, Maxim Group upgraded EMC from Hold to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $28.68, which is 3.43% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Company Update (NYSE:EMC): New EMC {code} Projects Broaden EMC’s Open Source Contributions Market Update: EMC Corporation (NYSE:EMC) – EMC Announces the EMC Provider Cloud System Market Update: EMC Corporation (NYSE:EMC) – New Study Reveals Hybrid Cloud Is The ‘Great Enabler’ of Digital Transformation