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

Dell Technologies (NYSE:DELLGet Rating) issued an update on its second quarter 2023 earnings guidance on Friday morning. The company provided earnings per share guidance of $1.55-$1.70 for the period, compared to the consensus earnings per share 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.

NYSE:DELL opened at $43.93 on Friday. The company’s 50 day moving average is $47.55 and its two-hundred day moving average is $53.31. The company has a market cap of $33.40 billion, a PE ratio of 6.23, a P/E/G ratio of 0.62 and a beta of 0.90. Dell Technologies has a twelve month low of $38.33 and a twelve month high of $61.54. The company has a current ratio of 0.80, a quick ratio of 0.70 and a debt-to-equity ratio of 2.23.

Dell Technologies (NYSE:DELLGet Rating) last released its earnings results on Thursday, February 24th. The technology company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.23). The firm had revenue of $27.99 billion during the quarter, compared to analyst estimates of $27.52 billion. Dell Technologies had a net margin of 5.20% and a return on equity of 87.33%. Dell Technologies’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.70 earnings per share. As a group, analysts expect that Dell Technologies will post 5.53 EPS for the current fiscal year.

Several research firms have recently weighed in on DELL. Citigroup cut their target price on shares of Dell Technologies from $70.00 to $65.00 and set a buy rating for the company in a report on Monday. Barclays cut their price target on shares of Dell Technologies from $54.00 to $53.00 and set an equal weight rating for the company in a report on Thursday, March 31st. Zacks Investment Research upgraded shares of Dell Technologies from a sell rating to a hold rating in a research report on Wednesday, April 27th. Raymond James reduced their price target on shares of Dell Technologies from $60.00 to $57.00 and set an outperform rating for the company in a research report on Monday, February 28th. Finally, The Goldman Sachs Group lowered Dell Technologies from a buy rating to a neutral rating and lowered their price target for the stock from $68.00 to $61.00 in a research note on Friday, April 1st. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $71.14.

In related news, General Counsel Richard J. Rothberg sold 64,895 shares of Dell Technologies stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $52.58, for a total value of $3,412,179.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William F. Scannell sold 124,718 shares of the company’s stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $53.52, for a total value of $6,674,907.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,907 shares of company stock worth $17,145,029. Corporate insiders own 47.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. acquired a new stake in Dell Technologies during the 1st quarter worth approximately $27,000. qPULA Trading Management LP purchased a new stake in shares of Dell Technologies during the first quarter worth $206,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Dell Technologies in the first quarter valued at $228,000. Moors & Cabot Inc. purchased a new position in Dell Technologies in the first quarter valued at $231,000. Finally, Kingsview Wealth Management LLC acquired a new position in Dell Technologies during the 4th quarter worth $231,000. 30.05% of the stock is currently owned by hedge funds and other institutional investors.

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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