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.
Western Digital (WDC) Stock Moves -0.83%: What You Should Know
Read MoreHide Full Article
Western Digital (WDC - Free Report) closed at $67.06 in the latest trading session, marking a -0.83% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.94%. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 14.28% over the past month, outpacing the Computer and Technology sector's gain of 2.77% and the S&P 500's gain of 5.72% in that time.
Investors will be hoping for strength from Western Digital as it approaches 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.8 billion, up 21.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.72 per share and revenue of $19.58 billion, which would represent changes of +91.65% and +15.73%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Western Digital. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Western Digital is currently a Zacks Rank #3 (Hold).
Investors should also note Western Digital's current valuation metrics, including its Forward P/E ratio of 7.76. Its industry sports an average Forward P/E of 22.12, so we one might conclude that Western Digital is trading at a discount comparatively.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Western Digital (WDC) Stock Moves -0.83%: What You Should Know
Western Digital (WDC - Free Report) closed at $67.06 in the latest trading session, marking a -0.83% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.94%. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 14.28% over the past month, outpacing the Computer and Technology sector's gain of 2.77% and the S&P 500's gain of 5.72% in that time.
Investors will be hoping for strength from Western Digital as it approaches 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.8 billion, up 21.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.72 per share and revenue of $19.58 billion, which would represent changes of +91.65% and +15.73%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Western Digital. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Western Digital is currently a Zacks Rank #3 (Hold).
Investors should also note Western Digital's current valuation metrics, including its Forward P/E ratio of 7.76. Its industry sports an average Forward P/E of 22.12, so we one might conclude that Western Digital is trading at a discount comparatively.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.