Mizuho Cuts Dell to Neutral (DELL)
Dell (NASDAQ: DELL) was downgraded by research analysts at Mizuho from a “buy” rating to a “neutral” rating in a report released on Wednesday. They currently have a $15.00 target price on the stock, down from their previous target price of $20.00.
Shares of Dell traded up 0.28% during mid-day trading on Wednesday, hitting $12.525. Dell has a 52 week low of $12.31 and a 52 week high of $18.36. The company has a market cap of $22.031 billion and a P/E ratio of 7.13.
Dell last announced its earnings results on Tuesday, May 22nd. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.46 by $0.03. The company’s quarterly revenue was down 4.0% on a year-over-year basis. On average, analysts predict that Dell will post $0.50 earnings per share next quarter.
A number of other firms have also recently commented on DELL. Analysts at Sterne Agee upgraded shares of Dell from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, May 17th. They now have a $15.00 price target on the stock. Separately, analysts at Maxim Group cut their price target on shares of Dell from $23.00 to $20.00 in a research note to investors on Thursday, April 12nd. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley (NYSE: MS) upgraded shares of Dell from an “underweight” rating to an “equal weight” rating in a research note to investors on Tuesday, April 10th.
Dell Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels.