EMC Corporation (EMC) is Downgraded by Longbow to Neutral

EMC Corporation (EMC) was Downgraded by Longbow to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Longbow advised their investors in a research report released on May 27, 2016.

Many Wall Street Analysts have commented on EMC Corporation. Company shares were Reiterated by Deutsche Bank on Apr 21, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .Company shares were Reiterated by Maxim Group on Apr 20, 2016 to “Hold”, Firm has raised the Price Target to $ 31.50 from a previous price target of $31 .EMC Corporation was Downgraded by Raymond James to ” Outperform” on Apr 7, 2016.

On the company’s financial health, EMC Corporation reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.33. The company had revenue of $5475.00 million for the quarter, compared to analysts expectations of $5640.05 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

EMC Corporation closed down -0.05 points or -0.18% at $27.82 with 74,63,114 shares getting traded on Wednesday. Post opening the session at $27.84, the shares hit an intraday low of $27.78 and an intraday high of $27.91 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Investors should note that on May 16, 2016, EMC Corporation announced a cash dividend of $0.1150. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Jul 22, 2016.

In a different news, on Aug 11, 2015, Yoran Amit (President, RSA) sold 21,487 shares at $27.17 per share price. According to the SEC, on Mar 6, 2015, David I Goulden (CEO, EMCII) sold 85,500 shares at $28.09 per share price. On Mar 4, 2015, Paul T Dacier (EVP & General Counsel) sold 47,365 shares at $28.93 per share price, according to the Form-4 filing with the securities and exchange commission.

EMC Corporation (EMC) is a service provider to information technology (IT) operations to an as a service model (ITaaS). It develops delivers and supports the IT industry’s range of information infrastructure and virtual infrastructure technologies solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure VMware Virtual Infrastructure and Pivotal. EMC Information Infrastructure business consists of three divisons: Information Storage Enterprise Content Division and RSA Information Security. EMC Information Infrastructure provides a foundation for organizations to store manage protect analyze and secure quantities of information. VMware develops and markets its product and service offerings within three main product groups: Software-Defined Data Center Cloud Services and End-User Computing. Pivotal’s three offerings include the Pivotal Big Data Suite Pivotal Labs and Pivotal Cloud Foundry.

EMC Corporation

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