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

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

Dell Technologies Price Performance

Shares of Dell Technologies stock traded up $1.36 on Wednesday, reaching $45.21. 80,608 shares of the company were exchanged, compared to its average volume of 2,971,082. Dell Technologies has a 1-year low of $32.90 and a 1-year high of $61.54. The company has a market cap of $33.14 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 0.60 and a beta of 0.92. The stock’s 50 day moving average price is $37.60 and its 200-day moving average price is $42.39.

Dell Technologies Dividend Announcement

The business also recently disclosed 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 2.92%. The ex-dividend date was Tuesday, October 18th. Dell Technologies’s dividend payout ratio is presently 55.46%.

Wall Street Analysts Forecast Growth

Several analysts have commented on DELL shares. Raymond James increased their price target on shares of Dell Technologies from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on shares of Dell Technologies in a research report on Monday, October 31st. They issued a “hold” rating and a $39.00 price objective for the company. Cowen decreased their price objective on shares of Dell Technologies from $58.00 to $45.00 and set a “market perform” rating for the company in a research report on Friday, August 26th. Wells Fargo & Company reduced their price target on shares of Dell Technologies from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of Dell Technologies from $54.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday, October 17th. Seven equities research 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.38.

Insider Transactions at Dell Technologies

In related news, insider William F. Scannell sold 27,536 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $40.20, for a total value of $1,106,947.20. Following the completion of the transaction, the insider now directly owns 343,835 shares of the company’s stock, valued at $13,822,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 47.30% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in Dell Technologies in the first quarter valued at approximately $27,000. American International Group Inc. purchased a new stake in shares of Dell Technologies during the second quarter worth approximately $139,000. qPULA Trading Management LP purchased a new stake in shares of Dell Technologies during the first quarter worth approximately $206,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Dell Technologies during the first quarter worth approximately $228,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of Dell Technologies during the first quarter worth approximately $231,000. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Dell Technologies Company Profile

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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).

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Earnings History for Dell Technologies (NYSE:DELL)

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