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Western Digital (WDC) Surpasses Market Returns: Some Facts Worth Knowing
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Western Digital (WDC - Free Report) closed at $60.39 in the latest trading session, marking a +1.86% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.96%. On the other hand, the Dow registered a gain of 0.89%, and the technology-centric Nasdaq increased by 0.94%.
The maker of hard drives for businesses and personal computers's shares have seen an increase of 18.16% over the last month, surpassing the Computer and Technology sector's gain of 2.53% and the S&P 500's gain of 0.5%.
Investors will be eagerly watching for the performance of Western Digital in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.47, showcasing a 2.08% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.45 billion, reflecting a 34.79% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $4.73 per share and a revenue of $9.37 billion, demonstrating changes of +2465% and -27.95%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Western Digital. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.18% higher within the past month. Right now, Western Digital possesses a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Western Digital is currently being traded at a Forward P/E ratio of 12.52. This represents a discount compared to its industry average Forward P/E of 13.31.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 44, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Western Digital (WDC) Surpasses Market Returns: Some Facts Worth Knowing
Western Digital (WDC - Free Report) closed at $60.39 in the latest trading session, marking a +1.86% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.96%. On the other hand, the Dow registered a gain of 0.89%, and the technology-centric Nasdaq increased by 0.94%.
The maker of hard drives for businesses and personal computers's shares have seen an increase of 18.16% over the last month, surpassing the Computer and Technology sector's gain of 2.53% and the S&P 500's gain of 0.5%.
Investors will be eagerly watching for the performance of Western Digital in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.47, showcasing a 2.08% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $2.45 billion, reflecting a 34.79% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $4.73 per share and a revenue of $9.37 billion, demonstrating changes of +2465% and -27.95%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Western Digital. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.18% higher within the past month. Right now, Western Digital possesses a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Western Digital is currently being traded at a Forward P/E ratio of 12.52. This represents a discount compared to its industry average Forward P/E of 13.31.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 44, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.