NEW YORK (
was the worst-performing stock in the
The S&P 500 was down 13 points, or 0.97%, to 1,303 in trading Wednesday morning.
Shares of Dell fell 15.82% to $12.69. The PC maker reported
Tuesday of $14.42 billion, down from $15 billion in the same period last year and below analysts' estimates of $14.91 billion.
The company's first-quarter adjusted earnings were
, down from year-earlier earnings of 55 cents a share and below analysts' estimates of 46 cents.
Shares of Dell hit a 52-week low on Wednesday of $12.76. The stock's 52-week high of $18.36 was set on Feb. 21.
Dell trades at an estimated price-to-earnings ratio for next year of 6.04 times; the average for computer hardware companies is 14.78. For comparison,
has a lower forward P/E of 4.69.
Seventeen of the 33 analysts who cover Dell rated it hold. Fourteen analysts gave the stock a buy rating and two rated it sell.
The stock has declined 13.25% year to date.
-- Written by Alexandra Zendrian
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