Sterne Agee analyst predicts information technology company, Dell Inc.(DELL) will match, or even exceed estimates in its third quarter.
The firm’s analyst, Shaw Wu reported that he believes that Dell’s results will be in line or better than expected. Wu noted, “our supply chain checks unsurprisingly indicate that its core PC business remains under pressure from a tough macro and cannibalization from iOS and Android.”
Sterne Agee, which currently has a “Neutral” rating on the company, expects to see DELL report revenue of $13.9 billion, and earnings of 40 cent
Wu commented, “for its outlook, it is a similar story with low expectations. Because of this, we would not be surprised to see a near-term rally in DELL shares though our longer-term concerns remain.”
DELL will release its Q3 earnings report on November 15.
Dell Shares were mostly flat during premarket trading Wednesday.
The Bottom Line
Shares of Dell (DELL) have a 3.40% dividend yield, based on last night’s closing stock price of $9.40. The stock has technical support in the $8 price area. If the shares can firm up, we see overhead resistance around the $11-$12 price levels.
Dell Inc.(DELL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.