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Western Digital (WDC) Stock Moves -9.92%: What You Should Know
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Western Digital (WDC - Free Report) ended the recent trading session at $539.00, demonstrating a -9.92% change from the preceding day's closing price. On the other hand, the Dow registered a gain of 1.14%, and the technology-centric Nasdaq decreased by 0.8%.
The stock of maker of hard drives for businesses and personal computers has risen by 0.72% in the past month, leading the Computer and Technology sector's loss of 5.47% and the S&P 500's loss of 1.43%.
The upcoming earnings release of Western Digital will be of great interest to investors. The company's upcoming EPS is projected at $3.32, signifying a 100.00% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $3.7 billion, reflecting a 42.21% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.05 per share and revenue of $12.88 billion, which would represent changes of +103.85% and -3.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Western Digital. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.89% higher. Western Digital currently has a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Western Digital is currently exchanging hands at a Forward P/E ratio of 32.66. This denotes a premium relative to the industry average Forward P/E of 15.32.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Western Digital (WDC) Stock Moves -9.92%: What You Should Know
Western Digital (WDC - Free Report) ended the recent trading session at $539.00, demonstrating a -9.92% change from the preceding day's closing price. On the other hand, the Dow registered a gain of 1.14%, and the technology-centric Nasdaq decreased by 0.8%.
The stock of maker of hard drives for businesses and personal computers has risen by 0.72% in the past month, leading the Computer and Technology sector's loss of 5.47% and the S&P 500's loss of 1.43%.
The upcoming earnings release of Western Digital will be of great interest to investors. The company's upcoming EPS is projected at $3.32, signifying a 100.00% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $3.7 billion, reflecting a 42.21% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.05 per share and revenue of $12.88 billion, which would represent changes of +103.85% and -3.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Western Digital. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.89% higher. Western Digital currently has a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Western Digital is currently exchanging hands at a Forward P/E ratio of 32.66. This denotes a premium relative to the industry average Forward P/E of 15.32.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.