Barclays Maintains an 'Equalweight' on Dell (DELL); Dividend Surprise, But Still A Way To Go
Tweet Send to a FriendGet Alerts DELL Hot Sheet
Price: $13.34 -0.07%
Rating Summary:
9 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
9 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade DELL Now!
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, with a 52 week range of $11.68-$18.36.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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, with a 52 week range of $11.68-$18.36.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
- UPDATE: A.G. Lafley Gives Procter & Gamble (PG) Investors 'New Hope', UBS Upgrades to Buy
- Williams-Sonoma (WSM) Delivers 'Clean' Q1 Beat - Analyst
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, DividendsRelated Entities
Barclays, Dividend
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
