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What Analyst Projections for Key Metrics Reveal About Seagate (STX) Q3 Earnings
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In its upcoming report, Seagate (STX - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.25 per share, reflecting an increase of 189.3% compared to the same period last year. Revenues are forecasted to be $1.65 billion, representing a year-over-year decrease of 11.6%.
Over the last 30 days, there has been an upward revision of 11.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Seagate metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenue by Product Line- HDD' to come in at $1.47 billion. The estimate indicates a year-over-year change of -8.4%.
Analysts predict that the 'Revenue by Product Line- Enterprise Data Solutions, SSD & Other' will reach $175.92 million. The estimate indicates a year-over-year change of -31.3%.
The combined assessment of analysts suggests that 'Capacity Shipped - Mass capacity' will likely reach 90.22 EB. Compared to the present estimate, the company reported 104.1 EB in the same quarter last year.
The collective assessment of analysts points to an estimated 'HDD Price per Terabyte' of $14.28. The estimate compares to the year-ago value of $14.
According to the collective judgment of analysts, 'Capacity Shipped - Total' should come in at 101.93 EB. The estimate compares to the year-ago value of 118.7 EB.
The average prediction of analysts places 'Capacity Shipped - Legacy' at 11.72 EB. Compared to the present estimate, the company reported 14.6 EB in the same quarter last year.
Over the past month, Seagate shares have recorded returns of -3.7% versus the Zacks S&P 500 composite's -1.7% change. Based on its Zacks Rank #3 (Hold), STX will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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What Analyst Projections for Key Metrics Reveal About Seagate (STX) Q3 Earnings
In its upcoming report, Seagate (STX - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.25 per share, reflecting an increase of 189.3% compared to the same period last year. Revenues are forecasted to be $1.65 billion, representing a year-over-year decrease of 11.6%.
Over the last 30 days, there has been an upward revision of 11.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Seagate metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenue by Product Line- HDD' to come in at $1.47 billion. The estimate indicates a year-over-year change of -8.4%.
Analysts predict that the 'Revenue by Product Line- Enterprise Data Solutions, SSD & Other' will reach $175.92 million. The estimate indicates a year-over-year change of -31.3%.
The combined assessment of analysts suggests that 'Capacity Shipped - Mass capacity' will likely reach 90.22 EB. Compared to the present estimate, the company reported 104.1 EB in the same quarter last year.
The collective assessment of analysts points to an estimated 'HDD Price per Terabyte' of $14.28. The estimate compares to the year-ago value of $14.
According to the collective judgment of analysts, 'Capacity Shipped - Total' should come in at 101.93 EB. The estimate compares to the year-ago value of 118.7 EB.
The average prediction of analysts places 'Capacity Shipped - Legacy' at 11.72 EB. Compared to the present estimate, the company reported 14.6 EB in the same quarter last year.
View all Key Company Metrics for Seagate here>>>
Over the past month, Seagate shares have recorded returns of -3.7% versus the Zacks S&P 500 composite's -1.7% change. Based on its Zacks Rank #3 (Hold), STX will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>