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Company Update (NYSE:EMC): EMC sets shareholder vote on Dell buyout

[at American City Business Journals] – One of the last hurdles for Dell Inc. in its bid to complete the largest tech buyout in history — paying $67 billion for Massachusetts-based EMC Corp. — finally has a calendar date: July 19. For its part, Round Rock-based Dell is looking to boost its top line and push into technologies such as cloud computing and big data. Both European and U.S. regulators have approved the deal and Dell is still lining up financing. Read more on this. EMC Corporation (EMC) , with a current value of $54.71B, started the session at $28.00. During today’s session, EMC traded between $27.90 to $28.07 with a one year range of $22.66 to $28.77. EMC (EMC) shares are currently priced at 15.54x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.68x earnings multiple for the same period. The company pays shareholders $0.46 per share in dividend income per year, for a current yield of 1.65%. According to a consensus of 26 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. The full-year EPS estimate is $1.80 which would be a $0.02 worse than last year’s full-year earnings. 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. With the above information in mind, readers should note that the average price target is $28.87, which is 3.11% above where the stock opened this morning. See more in (NYSE:EMC) Similar Articles: Market Update: EMC Corporation (NYSE:EMC) – Dell Said to Boost Bond Deal for EMC Buyout to $20 Billion Company Update (NYSE:EMC): EMC says Dell deal still on track despite missing expectations Company Update: EMC Corporation (NYSE:EMC) – Dell pushes ahead on megadeal as EMC investors get nervous
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