Western Digital (WDC - Free Report) closed the most recent trading day at $37.11, moving -0.3% from the previous trading session. This change lagged the S&P 500's 0.28% loss on the day. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq lost 1.61%.
Prior to today's trading, shares of the maker of hard drives for businesses and personal computers had lost 20.7% over the past month. This has lagged the Computer and Technology sector's loss of 8.75% and the S&P 500's loss of 6.3% in that time.
Investors will be hoping for strength from WDC as it approaches its next earnings release. In that report, analysts expect WDC to post earnings of $0.22 per share. This would mark a year-over-year decline of 93.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.70 billion, down 27.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.88 per share and revenue of $16.64 billion, which would represent changes of -66.87% and -19.42%, respectively, from the prior year.
Any recent changes to analyst estimates for WDC should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.51% higher within the past month. WDC is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, WDC is holding a Forward P/E ratio of 7.63. This represents a discount compared to its industry's average Forward P/E of 12.12.
It is also worth noting that WDC currently has a PEG ratio of 3.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. WDC's industry had an average PEG ratio of 3.21 as of yesterday's close.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.