Market Update (NASDAQ:MSFT): The Sun Is Setting On Microsoft’s Sunrise Calendar App

[at Forbes] – The Sunrise calendar app will officially stop working as of August 31 of this year. Sunrise was acquired by Microsoft last year, and the developers have been merged into the Outlook for iOS and Android team. A post on the Sunrise blog explains that they simply don’t have the bandwidth Read more on this. Microsoft Corporation (MSFT) , with a current value of $401.28B, opened at $51.14. Shares have traded today between $51.00 and $51.78 per share with the price of the stock fluctuating between $39.72 to $56.85 over the last 52 weeks. Priced at 19.18x this year’s forecasted earnings, MSFT shares are relatively expensive compared to the industry’s 9.19x forward p/e ratio. The company pays shareholders $1.44 per share annually in dividends, yielding 2.86%. Consensus earnings for the current quarter by the 28 sell-side analysts covering the stock is an estimate of $0.58 per share, which would be $0.02 worse than the year-ago quarter and a $0.09 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $2.66 would be a $0.20 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $22.17 Billion. If reported, that would be a 0.05% decrease 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 the stock is $57.73, which is 12.89% above where the stock opened this morning. See more in (NASDAQ:MSFT) Similar Articles: Market Update: Microsoft Corporation (NASDAQ:MSFT) – Microsoft’s Azure: The Engine in BMW’s Mobile App (MSFT, AMZN) Market Update (NASDAQ:MSFT): Has Microsoft Become the Ultimate Value Stock? (MSFT) Market Update (NASDAQ:MSFT): Microsoft is cozying up to its enemies in the gaming market