Market Update (NYSE:EMC): Glass Lewis Recommends EMC Shareholders Vote "FOR" Proposed Merger with Dell

[PR Newswire] – EMC Corporation (EMC) today announced that Glass Lewis, an independent proxy advisory firm, has recommended that EMC shareholders vote “FOR” the proposal to approve the merger agreement among Denali Holding Inc., Dell Inc., Universal Acquisition Co., and EMC, and “FOR” the other two proposals described in EMC’s proxy statement relating to the company’s Special Meeting of Shareholders to be held on July 19, 2016. “Overall, we find that the proposed transaction is financially and strategically reasonable from the perspective of EMC and its shareholders. Read more on this. EMC Corporation (EMC) , currently valued at $53.33B, started trading this morning at $27.24. Looking at today’s market, EMC one day range is $27.19 to $27.33 with its 52-week range being $22.66 to $28.77. Priced at 15.16x this year’s forecasted earnings, EMC shares are relatively expensive compared to the industry’s 13.68x forward p/e ratio. And for income investors, the company pays shareholders $0.46 per share annually in dividends, yielding 1.68%. According to a consensus of 24 analysts, the earnings estimate of $0.42 per share would be $0.01 worse than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.80 would be 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. Recently, Sterne Agee CRT downgraded EMC from Buy to Neutral (Jun 2, 2016). Previously, UBS downgraded EMC from Buy to Neutral. When considering if the stock is under or overvalued, the average price target is $28.91, which is 6.13% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Company Update (NYSE:EMC): EMC sets shareholder vote on Dell buyout Market Update: EMC Corporation (NYSE:EMC) – Dell to put EMC exec in big role after merger Company Update: EMC Corporation (NYSE:EMC) – Dell and EMC Take the Next Step in Merger