Dell Technologies (NYSE:DELL) Updates Q3 Earnings Guidance

Dell Technologies (NYSE:DELL) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.90-2.10 for the period, compared to the consensus earnings per share estimate of $2.19. The company issued revenue guidance of $24-25 billion, compared to the consensus revenue estimate of $24.60 billion. Dell Technologies also updated its FY25 guidance to $7.55-8.05 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Dell Technologies from $142.00 to $136.00 and set an overweight rating for the company in a research note on Thursday. Evercore ISI restated an outperform rating and issued a $140.00 price target on shares of Dell Technologies in a research note on Wednesday. Bank of America decreased their price target on Dell Technologies from $180.00 to $150.00 and set a buy rating for the company in a research note on Thursday, August 22nd. Sanford C. Bernstein boosted their price target on Dell Technologies from $120.00 to $155.00 and gave the stock an outperform rating in a research note on Monday, May 20th. Finally, Citigroup reduced their price objective on Dell Technologies from $170.00 to $155.00 and set a buy rating for the company in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $129.00.

Dell Technologies Stock Down 0.7 %

Dell Technologies stock traded down $0.82 during midday trading on Thursday, reaching $110.74. 19,570,114 shares of the stock traded hands, compared to its average volume of 10,230,156. The stock’s fifty day moving average is $121.56 and its 200-day moving average is $122.10. Dell Technologies has a 12 month low of $53.62 and a 12 month high of $179.70. The stock has a market cap of $78.55 billion, a P/E ratio of 22.60, a PEG ratio of 1.34 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, May 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $22.24 billion during the quarter, compared to analyst estimates of $21.70 billion. Dell Technologies had a negative return on equity of 173.72% and a net margin of 4.00%. On average, equities analysts predict that Dell Technologies will post 6.85 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 23rd were paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, July 23rd. Dell Technologies’s payout ratio is 36.33%.

Insider Activity

In other news, CEO Michael S. Dell sold 2,837,829 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $133.75, for a total value of $379,559,628.75. Following the sale, the chief executive officer now directly owns 20,412,241 shares in the company, valued at $2,730,137,233.75. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Dell Technologies news, Director David W. Dorman sold 75,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $135.26, for a total transaction of $10,144,500.00. Following the transaction, the director now directly owns 114,317 shares in the company, valued at approximately $15,462,517.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael S. Dell sold 2,837,829 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $133.75, for a total value of $379,559,628.75. Following the transaction, the chief executive officer now owns 20,412,241 shares in the company, valued at $2,730,137,233.75. The disclosure for this sale can be found here. Insiders sold 7,058,131 shares of company stock valued at $963,293,619 in the last ninety days. Insiders own 46.70% of the company’s stock.

About Dell Technologies

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).