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) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, Western Digital (WDC - Free Report) closed at $49.65, marking a -1.92% move from the previous day. This change lagged the S&P 500's daily loss of 1.57%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had lost 2.35% over the past month, lagging the Computer and Technology sector's gain of 4.23% and the S&P 500's gain of 5.37% 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 $1.49 per share. This would mark year-over-year growth of 46.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.36 billion, up 5.41% from the year-ago period.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $7.95 per share and revenue of $18.87 billion. These results would represent year-over-year changes of +74.73% and +11.54%, respectively.
Investors should also note any recent changes to analyst estimates for Western Digital. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.82% lower within the past month. Western Digital is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Western Digital is holding a Forward P/E ratio of 6.37. For comparison, its industry has an average Forward P/E of 16.87, which means Western Digital is trading at a discount to the group.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Western Digital (WDC - Free Report) closed at $49.65, marking a -1.92% move from the previous day. This change lagged the S&P 500's daily loss of 1.57%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had lost 2.35% over the past month, lagging the Computer and Technology sector's gain of 4.23% and the S&P 500's gain of 5.37% 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 $1.49 per share. This would mark year-over-year growth of 46.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.36 billion, up 5.41% from the year-ago period.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $7.95 per share and revenue of $18.87 billion. These results would represent year-over-year changes of +74.73% and +11.54%, respectively.
Investors should also note any recent changes to analyst estimates for Western Digital. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.82% lower within the past month. Western Digital is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Western Digital is holding a Forward P/E ratio of 6.37. For comparison, its industry has an average Forward P/E of 16.87, which means Western Digital is trading at a discount to the group.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.