Market Update: EMC Corporation (NYSE:EMC) – Michael Dell cites growth post merger, slams rival HP

[at American City Business Journals] – Dell Inc. CEO Michael Dell pulled no punches in criticizing tech rival Hewlett-Packard Co. during EMC Corp.’s annual users conference, citing Dell’s growth compared to the move by HP to segment its enterprise business. “While our competitors like HP are shrinking their way to success … wait, you can’t shrink your way to success,” Dell said earlier this week during the four-day EMC World conference in Las Vegas, according to TechWeek Europe. Dell has operated at a loss during the last two years and generated about half the revenue of California-based HP (HPQ). Read more on this. EMC Corporation (EMC) , valued at $51.64B, began trading this morning at $26.25. Looking at today’s trading action, the company’s one day range from $26.17 to $26.52 with its 52-week range being $22.66 to $28.77. EMC shares are currently priced at 14.59x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.23x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.46 per share annually in dividends, yielding 1.76%. In a review of the consensus earnings estimate this quarter, 27 sell-side analysts are looking at $0.42 per share, which would be $0.01 worse 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 $0.02 setback 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. In terms of ratings, Raymond James downgraded EMC from Strong Buy to Outperform (Apr 7, 2016). Previously, Maxim Group upgraded EMC from Hold to Buy. When considering if the stock is under or overvalued, the average price target is $28.71, which is 9.37% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: 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 Stock Update: EMC Corporation (NYSE:EMC) – Michael Dell to employees: Ignore media reports on EMC deal