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Western Digital (WDC) Stock Sinks As Market Gains: What You Should Know
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Western Digital (WDC - Free Report) closed at $68.26 in the latest trading session, marking a -0.6% move from the prior day. This change lagged the S&P 500's 0.39% gain on the day. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.34%.
Coming into today, shares of the maker of hard drives for businesses and personal computers had gained 16.84% in the past month. In that same time, the Computer and Technology sector gained 6.58%, while the S&P 500 gained 4.73%.
Wall Street will be looking for positivity from WDC as it approaches its next earnings report date. This is expected to be January 30, 2020. The company is expected to report EPS of $0.56, down 61.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.21 billion, down 0.46% from the prior-year quarter.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $2.56 per share and revenue of $16.62 billion. These results would represent year-over-year changes of -47.11% and +0.29%, respectively.
Investors might also notice recent changes to analyst estimates for WDC. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. WDC is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that WDC has a Forward P/E ratio of 26.79 right now. Its industry sports an average Forward P/E of 16.67, so we one might conclude that WDC is trading at a premium comparatively.
Meanwhile, WDC's PEG ratio is currently 13.4. 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. Computer- Storage Devices stocks are, on average, holding a PEG ratio of 3.54 based on yesterday's closing prices.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Western Digital (WDC) Stock Sinks As Market Gains: What You Should Know
Western Digital (WDC - Free Report) closed at $68.26 in the latest trading session, marking a -0.6% move from the prior day. This change lagged the S&P 500's 0.39% gain on the day. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.34%.
Coming into today, shares of the maker of hard drives for businesses and personal computers had gained 16.84% in the past month. In that same time, the Computer and Technology sector gained 6.58%, while the S&P 500 gained 4.73%.
Wall Street will be looking for positivity from WDC as it approaches its next earnings report date. This is expected to be January 30, 2020. The company is expected to report EPS of $0.56, down 61.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.21 billion, down 0.46% from the prior-year quarter.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $2.56 per share and revenue of $16.62 billion. These results would represent year-over-year changes of -47.11% and +0.29%, respectively.
Investors might also notice recent changes to analyst estimates for WDC. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. WDC is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that WDC has a Forward P/E ratio of 26.79 right now. Its industry sports an average Forward P/E of 16.67, so we one might conclude that WDC is trading at a premium comparatively.
Meanwhile, WDC's PEG ratio is currently 13.4. 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. Computer- Storage Devices stocks are, on average, holding a PEG ratio of 3.54 based on yesterday's closing prices.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.