Dell Technologies (NYSE:DELL) Posts Earnings Results, Beats Estimates By $0.71 EPS

Dell Technologies (NYSE:DELLGet Rating) announced its quarterly earnings data on Monday. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.71, MarketWatch Earnings reports. The firm had revenue of $24.72 million during the quarter, compared to analysts’ expectations of $24.61 billion. Dell Technologies had a net margin of 1.74% and a negative return on equity of 235.07%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.37 earnings per share. Dell Technologies updated its Q4 guidance to $1.50-1.80 EPS.

Dell Technologies Price Performance

DELL traded up $0.46 during trading hours on Wednesday, hitting $44.31. 116,617 shares of the stock were exchanged, compared to its average volume of 2,971,082. The stock has a 50-day simple moving average of $37.60 and a 200-day simple moving average of $42.39. Dell Technologies has a 12 month low of $32.90 and a 12 month high of $61.54. The stock has a market cap of $32.48 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 0.60 and a beta of 0.92.

Dell Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Wednesday, October 19th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Tuesday, October 18th. Dell Technologies’s payout ratio is currently 55.46%.

Wall Street Analysts Forecast Growth

DELL has been the subject of a number of research reports. Barclays dropped their price objective on shares of Dell Technologies from $49.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday. Cowen lowered their price target on shares of Dell Technologies from $58.00 to $45.00 and set a “market perform” rating for the company in a report on Friday, August 26th. Wells Fargo & Company lowered their price target on shares of Dell Technologies from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday. UBS Group lowered their price target on shares of Dell Technologies from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Citigroup lowered their price target on shares of Dell Technologies from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, November 18th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $50.38.

Insider Buying and Selling

In related news, insider William F. Scannell sold 27,536 shares of Dell Technologies stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $40.20, for a total transaction of $1,106,947.20. Following the transaction, the insider now directly owns 343,835 shares of the company’s stock, valued at $13,822,167. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 47.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dell Technologies

Several institutional investors have recently made changes to their positions in the company. Toroso Investments LLC acquired a new stake in Dell Technologies in the 3rd quarter worth approximately $207,000. B. Riley Wealth Advisors Inc. lifted its stake in Dell Technologies by 211.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 16,440 shares of the technology company’s stock valued at $563,000 after buying an additional 11,155 shares during the period. National Pension Service lifted its stake in Dell Technologies by 1.1% in the third quarter. National Pension Service now owns 596,380 shares of the technology company’s stock valued at $20,390,000 after buying an additional 6,259 shares during the period. Captrust Financial Advisors increased its holdings in shares of Dell Technologies by 6.9% in the third quarter. Captrust Financial Advisors now owns 14,282 shares of the technology company’s stock worth $488,000 after acquiring an additional 927 shares in the last quarter. Finally, Ascent Group LLC lifted its position in shares of Dell Technologies by 48.7% in the third quarter. Ascent Group LLC now owns 9,050 shares of the technology company’s stock valued at $348,000 after buying an additional 2,962 shares during the last quarter. 26.53% of the stock is currently owned by institutional investors and hedge funds.

About Dell Technologies

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Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).

See Also

Earnings History for Dell Technologies (NYSE:DELL)

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