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Western Digital (WDC) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with Western Digital (WDC - Free Report) standing at $71.06, reflecting a +0.89% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 18.75% over the past month, outpacing the Computer and Technology sector's loss of 0.55% and the S&P 500's loss of 0.9% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Western Digital in its upcoming earnings disclosure. The company's earnings report is set to go public on April 25, 2024. It is anticipated that the company will report an EPS of $0.18, marking a 113.14% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $3.31 billion, indicating a 18.22% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.44 per share and revenue of $12.71 billion. These totals would mark changes of +59.89% and +3.16%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Western Digital. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Western Digital is holding a Zacks Rank of #4 (Sell) right now.
The Computer- Storage Devices industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 67, placing it within the top 27% of over 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.
To follow WDC in the coming trading sessions, be sure to utilize Zacks.com.
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Western Digital (WDC) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Western Digital (WDC - Free Report) standing at $71.06, reflecting a +0.89% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 18.75% over the past month, outpacing the Computer and Technology sector's loss of 0.55% and the S&P 500's loss of 0.9% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Western Digital in its upcoming earnings disclosure. The company's earnings report is set to go public on April 25, 2024. It is anticipated that the company will report an EPS of $0.18, marking a 113.14% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $3.31 billion, indicating a 18.22% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.44 per share and revenue of $12.71 billion. These totals would mark changes of +59.89% and +3.16%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Western Digital. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Western Digital is holding a Zacks Rank of #4 (Sell) right now.
The Computer- Storage Devices industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 67, placing it within the top 27% of over 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.
To follow WDC in the coming trading sessions, be sure to utilize Zacks.com.