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

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

Dell Technologies Stock Performance

NYSE:DELL traded up $0.89 during mid-day trading on Wednesday, hitting $44.74. The company had a trading volume of 31,001 shares, compared to its average volume of 2,971,082. Dell Technologies has a fifty-two week low of $32.90 and a fifty-two week high of $61.54. The business’s fifty day moving average is $37.60 and its two-hundred day moving average is $42.39. The firm has a market cap of $32.79 billion, a P/E ratio of 18.79, a P/E/G ratio of 0.60 and a beta of 0.92.

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Wednesday, October 19th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.95%. The ex-dividend date was Tuesday, October 18th. Dell Technologies’s payout ratio is 55.46%.

Insider Buying and Selling at Dell Technologies

In other news, insider William F. Scannell sold 27,536 shares of the firm’s 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 sale, the insider now owns 343,835 shares of the company’s stock, valued at $13,822,167. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 47.30% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

A number of hedge funds have recently modified their holdings of the business. Yousif Capital Management LLC raised its position in shares of Dell Technologies by 5.2% during the first quarter. Yousif Capital Management LLC now owns 6,090 shares of the technology company’s stock worth $306,000 after purchasing an additional 302 shares during the period. Cresset Asset Management LLC grew its holdings in shares of Dell Technologies by 5.3% during the first quarter. Cresset Asset Management LLC now owns 6,390 shares of the technology company’s stock worth $320,000 after buying an additional 321 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Dell Technologies during the first quarter worth about $27,000. Captrust Financial Advisors grew its holdings in shares of Dell Technologies by 6.9% during the third quarter. Captrust Financial Advisors now owns 14,282 shares of the technology company’s stock worth $488,000 after buying an additional 927 shares in the last quarter. Finally, Signet Financial Management LLC grew its holdings in shares of Dell Technologies by 2.9% during the first quarter. Signet Financial Management LLC now owns 40,000 shares of the technology company’s stock worth $2,008,000 after buying an additional 1,113 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

Analyst Ratings Changes

DELL has been the topic of a number of recent analyst reports. Cowen cut their price objective on Dell Technologies from $58.00 to $45.00 and set a “market perform” rating on the stock in a research note on Friday, August 26th. Morgan Stanley lowered their price objective on Dell Technologies from $54.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Monday, October 17th. Evercore ISI lowered their price objective on Dell Technologies from $50.00 to $48.00 in a research report on Tuesday. Citigroup decreased their price target on Dell Technologies from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. Finally, Jefferies Financial Group began coverage on Dell Technologies in a research note on Monday, October 31st. They issued a “hold” rating and a $39.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.38.

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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