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Western Digital (WDC) Gains But Lags Market: What You Should Know
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Western Digital (WDC - Free Report) closed at $57.87 in the latest trading session, marking a +0.94% move from the prior day. This move lagged the S&P 500's daily gain of 0.96%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had lost 2.53% over the past month, lagging the Computer and Technology sector's loss of 1.81% and the S&P 500's loss of 0.21% in that time.
Western Digital will be looking to display strength as it nears its next earnings release. In that report, analysts expect Western Digital to post earnings of $2.13 per share. This would mark year-over-year growth of 208.7%. Our most recent consensus estimate is calling for quarterly revenue of $4.8 billion, up 21.79% from the year-ago period.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $8.72 per share and revenue of $19.58 billion. These results would represent year-over-year changes of +91.65% and +15.73%, respectively.
Investors should also note any recent changes to analyst estimates for Western Digital. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Western Digital is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Western Digital is holding a Forward P/E ratio of 6.58. This represents a discount compared to its industry's average Forward P/E of 18.86.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Western Digital (WDC) Gains But Lags Market: What You Should Know
Western Digital (WDC - Free Report) closed at $57.87 in the latest trading session, marking a +0.94% move from the prior day. This move lagged the S&P 500's daily gain of 0.96%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had lost 2.53% over the past month, lagging the Computer and Technology sector's loss of 1.81% and the S&P 500's loss of 0.21% in that time.
Western Digital will be looking to display strength as it nears its next earnings release. In that report, analysts expect Western Digital to post earnings of $2.13 per share. This would mark year-over-year growth of 208.7%. Our most recent consensus estimate is calling for quarterly revenue of $4.8 billion, up 21.79% from the year-ago period.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $8.72 per share and revenue of $19.58 billion. These results would represent year-over-year changes of +91.65% and +15.73%, respectively.
Investors should also note any recent changes to analyst estimates for Western Digital. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Western Digital is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Western Digital is holding a Forward P/E ratio of 6.58. This represents a discount compared to its industry's average Forward P/E of 18.86.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.