We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why the Earnings Streak Will Continue for Western Digital (WDC)
Read MoreHide Full Article
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Western Digital Corporation (WDC - Free Report) , a firm in the Computer- Storage Devices industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, WDC has beaten estimates by at least 10% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, WDC expected to post $1.65 per share, while it actually produced $1.98 per share, a beat of 20%. Meanwhile, for the most recent quarter, the company looked to deliver $1.85 per share, when it actually saw $2.07 per share instead, representing an 11.9% positive surprise.
Thanks in part to this history, recent estimates have been moving higher for Western Digital. In fact, the Earnings ESP for WDC is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for WDC, as the firm currently has a Zacks Earnings ESP of 1.99%, so another beat could be around the corner.
This is particularly true when you consider that WDC has a great Zacks Rank #1 (Strong Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that WDC could see another beat at its next report, especially if recent trends are any guide.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why the Earnings Streak Will Continue for Western Digital (WDC)
Looking for a stock that might be in a good position to beat earnings at its next report? Consider Western Digital Corporation (WDC - Free Report) , a firm in the Computer- Storage Devices industry, which could be a great candidate for another beat.
This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, WDC has beaten estimates by at least 10% in both cases, suggesting it has a nice short-term history of crushing expectations.
Earnings in Focus
Two quarters ago, WDC expected to post $1.65 per share, while it actually produced $1.98 per share, a beat of 20%. Meanwhile, for the most recent quarter, the company looked to deliver $1.85 per share, when it actually saw $2.07 per share instead, representing an 11.9% positive surprise.
Western Digital Corporation Price and Consensus
Western Digital Corporation Price and Consensus | Western Digital Corporation Quote
Thanks in part to this history, recent estimates have been moving higher for Western Digital. In fact, the Earnings ESP for WDC is positive, which is a great sign of a coming beat.
After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for WDC, as the firm currently has a Zacks Earnings ESP of 1.99%, so another beat could be around the corner.
This is particularly true when you consider that WDC has a great Zacks Rank #1 (Strong Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. You can see the complete list of today’s Zacks #1 Rank stocks here.
When you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that WDC could see another beat at its next report, especially if recent trends are any guide.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>