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Gear Up for Western Digital (WDC) Q1 Earnings: Wall Street Estimates for Key Metrics
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Analysts on Wall Street project that Western Digital (WDC - Free Report) will announce quarterly earnings of $1.72 per share in its forthcoming report, representing an increase of 197.7% year over year. Revenues are projected to reach $4.11 billion, increasing 49.5% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Western Digital metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Net Revenue- Flash' will reach $2.05 billion. The estimate points to a change of +32% from the year-ago quarter.
The consensus among analysts is that 'Net Revenue- HDD' will reach $2.03 billion. The estimate indicates a change of +70% from the prior-year quarter.
The combined assessment of analysts suggests that 'Gross profit- HDD' will likely reach $764.66 million. Compared to the current estimate, the company reported $273 million in the same quarter of the previous year.
Western Digital shares have witnessed a change of +0.4% in the past month, in contrast to the Zacks S&P 500 composite's +4.5% move. With a Zacks Rank #5 (Strong Sell), WDC is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Gear Up for Western Digital (WDC) Q1 Earnings: Wall Street Estimates for Key Metrics
Analysts on Wall Street project that Western Digital (WDC - Free Report) will announce quarterly earnings of $1.72 per share in its forthcoming report, representing an increase of 197.7% year over year. Revenues are projected to reach $4.11 billion, increasing 49.5% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Western Digital metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Net Revenue- Flash' will reach $2.05 billion. The estimate points to a change of +32% from the year-ago quarter.
The consensus among analysts is that 'Net Revenue- HDD' will reach $2.03 billion. The estimate indicates a change of +70% from the prior-year quarter.
The combined assessment of analysts suggests that 'Gross profit- HDD' will likely reach $764.66 million. Compared to the current estimate, the company reported $273 million in the same quarter of the previous year.
View all Key Company Metrics for Western Digital here>>>
Western Digital shares have witnessed a change of +0.4% in the past month, in contrast to the Zacks S&P 500 composite's +4.5% move. With a Zacks Rank #5 (Strong Sell), WDC is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>