EMC Corporation (EMC) is Downgraded by Raymond James to Mkt Perform

EMC Corporation (EMC) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on EMC Corporation. EMC Corporation was Downgraded by Macquarie to ” Neutral” on Jul 13, 2016. Mizuho Downgraded EMC Corporation on Jul 12, 2016 to ” Neutral”, Price Target of the shares are set at $29.50.EMC Corporation was Downgraded by Sterne Agee CRT to ” Neutral” on Jun 2, 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 opened for trading at $27.53 and hit $27.61 on the upside on Friday, eventually ending the session at $27.55, with a gain of 0.07% or 0.02 points. The heightened volatility saw the trading volume jump to 1,69,57,435 shares. Company has a market cap of $53,811 M.

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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