Dell Technologies (NYSE: DELL) Releases Q2 2023 Earnings Guidance

Dell Technologies (NYSE: DELL – Get Rating) updated its second quarter 2023 earnings guidance on Friday. The company provided EPS guidance of $ 1.55- $ 1.70 for the period, compared to the consensus EPS estimate of $ 1.47. The company issued revenue guidance of $ 26.10 billion- $ 27.10 billion, compared to the consensus revenue estimate of $ 25.60 billion. Dell Technologies also updated its FY 2023 guidance to $ 6.97- EPS.

Several brokerages recently issued reports on DELL. Citigroup reduced their price objective on shares of Dell Technologies from $ 70.00 to $ 65.00 and set a buy rating on the stock in a report on Monday, May 23rd. Evercore ISI upgraded shares of Dell Technologies from an in-line rating to an outperform rating and set a $ 60.00 price objective on the stock in a report on Tuesday, March 8th. Barclays boosted their price objective on shares of Dell Technologies from $ 53.00 to $ 54.00 and gave the company an equal weight rating in a report on Tuesday, May 31st. JPMorgan Chase & Co. cut their target price on shares of Dell Technologies from $ 68.00 to $ 60.00 in a research note on Wednesday, May 25th. Finally, Raymond James cut their target price on shares of Dell Technologies from $ 60.00 to $ 57.00 and set an outperform rating on the stock in a research note on Monday, February 28th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $ 71.77.

DELL stock opened at $ 49.04 on Friday. The company’s 50 day moving average price is $ 47.04 and its 200 day moving average price is $ 52.29. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.66 and a current ratio of 0.78. Dell Technologies has a fifty-two week low of $ 38.33 and a fifty-two week high of $ 61.54. The firm has a market capitalization of $ 36.27 billion, a price-to-earnings ratio of 6.73, a PEG ratio of 0.67 and a beta of 0.89.

Dell Technologies (NYSE: DELL – Get Rating) last announced its quarterly earnings results on Thursday, May 26th. The technology company reported $ 1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.39 by $ 0.45. The firm had revenue of $ 26.12 billion during the quarter, compared to the consensus estimate of $ 25.23 billion. Dell Technologies had a return on equity of 126.94% and a net margin of 5.29%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $ 2.13 earnings per share. Equities analysts forecast that Dell Technologies will post 6.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Wednesday, July 20th will be issued a $ 0.33 dividend. This represents a $ 1.32 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, July 19th. Dell Technologies’ dividend payout ratio (DPR) is 18.11%.

In other Dell Technologies news, CAO Brunilda Rios sold 5,969 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $ 50.95, for a total value of $ 304,120.55. Following the completion of the transaction, the chief accounting officer now owns 18,985 shares in the company, valued at $ 967,285.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Howard D. Elias sold 67,613 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $ 54.67, for a total value of $ 3,696,402.71. The disclosure for this sale can be found here. Insiders sold 144,263 shares of company stock valued at $ 7,362,063 over the last ninety days. 47.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Dell Technologies in the first quarter valued at $ 27,000. qPULA Trading Management LP purchased a new position in shares of Dell Technologies in the first quarter valued at $ 206,000. Atria Wealth Solutions Inc. purchased a new position in shares of Dell Technologies in the first quarter valued at $ 228,000. Moors & Cabot Inc. purchased a new position in shares of Dell Technologies in the first quarter valued at $ 231,000. Finally, Synovus Financial Corp increased its position in shares of Dell Technologies by 38.2% in the first quarter. Synovus Financial Corp now owns 5,841 shares of the company’s technology stock valued at $ 296,000 after buying an additional 1,616 shares in the last quarter. Institutional investors and hedge funds own 30.05% of the company’s stock.

Dell Technologies Company Profile (Get Rating)

Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers.

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