Dell Technologies (NYSE:DELL) Releases 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 (EPS) guidance of $1.55-$1.70 for the period, compared to the consensus 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.

DELL stock opened at $50.35 on Friday. Dell Technologies has a 1-year low of $38.33 and a 1-year high of $61.54. The business has a fifty day moving average price of $46.99 and a 200-day moving average price of $52.91. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.78 and a quick ratio of 0.70. The stock has a market capitalization of $38.29 billion, a P/E ratio of 6.91, a P/E/G ratio of 0.70 and a beta of 0.89.

Dell Technologies (NYSE:DELLGet Rating) last posted its quarterly earnings results on Thursday, May 26th. The technology company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.45. The firm had revenue of $26.12 billion during the quarter, compared to analysts’ expectations of $25.23 billion. Dell Technologies had a return on equity of 126.94% and a net margin of 5.29%. The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. As a group, analysts anticipate that Dell Technologies will post 6.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Wednesday, July 20th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Tuesday, July 19th. Dell Technologies’s dividend payout ratio (DPR) is presently 18.11%.

A number of analysts have commented on the company. Zacks Investment Research upgraded Dell Technologies from a sell rating to a buy rating and set a $57.00 price target for the company in a research report on Thursday, June 2nd. Citigroup reduced their price target on Dell Technologies from $70.00 to $65.00 and set a buy rating for the company in a research report on Monday, May 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on Dell Technologies from $65.00 to $60.00 in a research report on Friday, May 27th. The Goldman Sachs Group cut Dell Technologies from a buy rating to a neutral rating and reduced their price target for the stock from $68.00 to $61.00 in a research report on Friday, April 1st. Finally, TheStreet lowered Dell Technologies from a b rating to a c+ rating in a research note on Friday, February 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $70.71.

In related news, insider William F. Scannell sold 124,718 shares of the stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $53.52, for a total transaction of $6,674,907.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Howard D. Elias sold 67,613 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $54.67, for a total value of $3,696,402.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,907 shares of company stock valued at $17,145,029. 47.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its position in Dell Technologies by 8.0% during the first quarter. BNP Paribas Arbitrage SA now owns 196,597 shares of the technology company’s stock valued at $9,867,000 after purchasing an additional 14,600 shares during the period. Worldquant Millennium Advisors LLC raised its holdings in shares of Dell Technologies by 566.3% in the first quarter. Worldquant Millennium Advisors LLC now owns 169,746 shares of the technology company’s stock worth $8,520,000 after buying an additional 144,271 shares during the period. Wealthfront Advisers LLC purchased a new stake in shares of Dell Technologies in the first quarter worth approximately $1,408,000. Advisors Asset Management Inc. raised its holdings in shares of Dell Technologies by 41.6% in the first quarter. Advisors Asset Management Inc. now owns 17,786 shares of the technology company’s stock worth $893,000 after buying an additional 5,226 shares during the period. Finally, Mirabella Financial Services LLP purchased a new position in Dell Technologies during the 1st quarter worth $309,000. Institutional investors and hedge funds own 30.05% of the company’s stock.

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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