Stock Update (NASDAQ:MSFT): Microsoft offers first major endorsement of new EU-U.S. data pact

[Reuters] – Microsoft became on Monday the first major U.S. tech company to say it would transfer users’ information to the United States using a new transatlantic commercial data pact and would resolve any disputes with European privacy watchdogs. Data transfers to the United States have been conducted in a legal limbo since October last year when the European Union’s top court struck down the Safe Harbour framework that allowed firms to easily move personal data across the Atlantic in compliance with strict EU data transferral rules. EU data protection law bars companies from transferring personal data to countries deemed to have insufficient privacy safeguards, of which the United States is one, unless they set up complex legal structures or use a framework like Safe Harbour. Read more on this. Microsoft Corporation (MSFT) , valued at $433.30B, opened at $54.49. Today’s price range has been between $54.44 and $55.15 per share and has traded between $39.72 and $56.85 over the past year. Microsoft (MSFT) shares are currently priced at 19.79x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 20.83x earnings multiple for the same period. The company pays shareholders $1.44 per share annually in dividends, yielding 2.65%. Consensus earnings for the current quarter by the 29 sell-side analysts covering the stock is an estimate of $0.64 per share, which would be $0.03 better than the year-ago quarter and a $0.04 sequential decrease. Investors should also note that the full-year EPS estimate of $2.75 is a $0.29 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $22.11 Billion. If reported, that would be a 1.75% increase over the year-ago quarter. In terms of ratings, Macquarie Initiated MSFT at Neutral (Mar 4, 2016). Previously, Morgan Stanley upgraded MSFT from Equal-Weight to Overweight. The average price target for MSFT shares by the analysts covering it is $58.80, which is 7.91% above where the stock opened. See more in (NASDAQ:MSFT) Similar Articles: Company Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft’s underwater data center called its ‘most intriguing project’ in almost 40 years Stock Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft (MSFT) Stock Rallies on Bullish Coverage, Making its Own SIM Card Stock Update: Microsoft Corporation (NASDAQ:MSFT) – MICROSOFT IS UP 10%: Here’s what a one-point move in MSFT does to the Dow