Emulex Corp. (NYSE:ELX)‘s stock had its “buy” rating reiterated by investment analysts at Lazard Capital Markets in a note issued to investors on Friday, StockRatingsNetwork reports.
Shares of Emulex Corp. (NYSE:ELX) traded up 1.89% on Friday, hitting $8.09. 330,979 shares of the company’s stock traded hands. Emulex Corp. has a 1-year low of $5.72 and a 1-year high of $8.99. The stock’s 50-day moving average is $7.6 and its 200-day moving average is $6.93. The company’s market cap is $739.5 million.
Emulex Corp. (NYSE:ELX) last announced its earnings results on Thursday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $120.40 million for the quarter, compared to the consensus estimate of $119.74 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, analysts predict that Emulex Corp. will post $0.54 earnings per share for the current fiscal year.
ELX has been the subject of a number of other recent research reports. Analysts at Craig Hallum upgraded shares of Emulex Corp. (NYSE:ELX) from a “hold” rating to a “buy” rating in a research note to investors on Friday. Separately, analysts at Barclays Capital initiated coverage on shares of Emulex Corp. (NYSE:ELX) in a research note to investors on Wednesday, September 11th. They set an “equal weight” rating and a $8.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Emulex Corp. (NYSE:ELX) from $7.00 to $8.00 in a research note to investors on Friday, August 9th. They now have a “sector perform” rating on the stock.
One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $7.21.
Emulex Corporation (NYSE:ELX) is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.