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

Dell Technologies (NYSE:DELLGet Rating) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share guidance of $6.97- for the period, compared to the consensus earnings per share estimate of $6.61. The company issued revenue guidance of $107.27 billion-$107.27 billion, compared to the consensus revenue estimate of $104.23 billion.Dell Technologies also updated its Q2 2023 guidance to $1.55-$1.70 EPS.

Several equities research analysts have recently issued reports on DELL shares. Morgan Stanley lowered their price objective on shares of Dell Technologies from $60.00 to $56.00 in a research note on Friday. TheStreet downgraded shares of Dell Technologies from a b rating to a c+ rating in a report on Friday, February 25th. Citigroup reduced their target price on shares of Dell Technologies from $70.00 to $65.00 and set a buy rating for the company in a research note on Monday. Evercore ISI upgraded Dell Technologies from an in-line rating to an outperform rating and set a $60.00 price target on the stock in a research note on Tuesday, March 8th. Finally, Barclays reduced their price objective on Dell Technologies from $54.00 to $53.00 and set an equal weight rating for the company in a research report on Thursday, March 31st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $71.14.

Dell Technologies stock opened at $43.93 on Friday. The firm has a market capitalization of $33.40 billion, a P/E ratio of 6.23, a P/E/G ratio of 0.62 and a beta of 0.90. The stock has a fifty day moving average price of $47.55 and a two-hundred day moving average price of $53.31. Dell Technologies has a 52-week low of $38.33 and a 52-week high of $61.54. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.80 and a quick ratio of 0.70.

Dell Technologies (NYSE:DELLGet Rating) last announced its earnings results on Thursday, February 24th. The technology company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.23). The firm had revenue of $27.99 billion for the quarter, compared to analyst estimates of $27.52 billion. Dell Technologies had a return on equity of 87.33% and a net margin of 5.20%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.70 EPS. On average, equities research analysts predict that Dell Technologies will post 5.53 EPS for the current fiscal year.

In related news, CAO Brunilda Rios sold 5,789 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $48.00, for a total transaction of $277,872.00. Following the transaction, the chief accounting officer now owns 24,954 shares in the company, valued at approximately $1,197,792. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William F. Scannell sold 124,718 shares of the firm’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $53.52, for a total transaction 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 valued at $17,145,029. Company insiders own 47.00% of the company’s stock.

Several institutional investors have recently modified their holdings of DELL. Brown Brothers Harriman & Co. bought a new position in Dell Technologies in the first quarter valued at about $27,000. qPULA Trading Management LP bought a new stake in shares of Dell Technologies during the first quarter worth approximately $206,000. Kingsview Wealth Management LLC acquired a new position in Dell Technologies in the fourth quarter valued at approximately $231,000. Synovus Financial Corp boosted its stake in Dell Technologies by 7.3% in the fourth quarter. Synovus Financial Corp now owns 4,225 shares of the technology company’s stock valued at $237,000 after acquiring an additional 288 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in Dell Technologies during the 1st quarter worth $228,000. 30.05% of the stock is owned by institutional investors and hedge funds.

About Dell Technologies (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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