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Western Digital (WDC) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Western Digital (WDC - Free Report) closed at $41.53, marking a -0.05% move from the previous day. This change lagged the S&P 500's 1.29% gain on the day. Elsewhere, the Dow gained 1.55%, while the tech-heavy Nasdaq added 1.27%.
WDC will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2019. The company is expected to report EPS of $2.60, down 34.18% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.31 billion, down 19.28% from the prior-year quarter.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $10.60 per share and revenue of $18.58 billion. These results would represent year-over-year changes of -28.04% and -10.03%, respectively.
Any recent changes to analyst estimates for WDC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.41% lower. WDC is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that WDC has a Forward P/E ratio of 3.97 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.2.
It is also worth noting that WDC currently has a PEG ratio of 0.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer- Storage Devices industry currently had an average PEG ratio of 0.9 as of yesterday's close.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 52, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Western Digital (WDC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Western Digital (WDC - Free Report) closed at $41.53, marking a -0.05% move from the previous day. This change lagged the S&P 500's 1.29% gain on the day. Elsewhere, the Dow gained 1.55%, while the tech-heavy Nasdaq added 1.27%.
WDC will be looking to display strength as it nears its next earnings release, which is expected to be January 24, 2019. The company is expected to report EPS of $2.60, down 34.18% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.31 billion, down 19.28% from the prior-year quarter.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $10.60 per share and revenue of $18.58 billion. These results would represent year-over-year changes of -28.04% and -10.03%, respectively.
Any recent changes to analyst estimates for WDC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.41% lower. WDC is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that WDC has a Forward P/E ratio of 3.97 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.2.
It is also worth noting that WDC currently has a PEG ratio of 0.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer- Storage Devices industry currently had an average PEG ratio of 0.9 as of yesterday's close.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 52, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.