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Barclays Maintains an 'Equalweight' on Dell (DELL); Dividend Surprise, But Still A Way To Go

June 13, 2012 1:52 PM EDT Send to a Friend
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Price: $13.86 --0%

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    9 Buy, 21 Hold, 3 Sell

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Barclays maintains an 'Equalweight' on Dell (NASDAQ: DELL) price target of $14.00.

Analyst, Ben A. Reitzes, attended Dell's Analyst meeting down in Texas, and the company obviously addressed how it's handling the sales execution that negatively affected Q1 results...however, the big surprise was the announcement of an $0.08 per share quarterly cash dividend. Reitzes said DELL plans to return 20-35% of its free cash flow to shareholders vs. prior plan of 10-13%.

However, Reitzes said, "...We believe the tone from management remains cautious given the macro environment, which is consistent with other companies in the space." (He maintained Q2 and FY13 EPS estimates at $0.44 and $1.82 - both below consensus)

For an analyst ratings summary and ratings history on Dell click here. For more ratings news on Dell click here.

Shares of Dell closed at $11.97 yesterday.




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