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Western Digital (WDC) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Western Digital (WDC - Free Report) closed at $45.05, marking a -0.64% move from the previous day. This change lagged the S&P 500's 1.45% gain on the day. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.78%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 0.44% over the past month, outpacing the Computer and Technology sector's loss of 5.61% and the S&P 500's loss of 7.42% in that time.
Wall Street will be looking for positivity from WDC as it approaches its next earnings report date. In that report, analysts expect WDC to post earnings of $0.94 per share. This would mark year-over-year growth of 452.94%. Meanwhile, our latest consensus estimate is calling for revenue of $4.20 billion, up 14.18% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.13 per share and revenue of $16.76 billion. These totals would mark changes of -35.33% and +1.16%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for WDC. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.07% lower within the past month. WDC is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, WDC is holding a Forward P/E ratio of 14.51. Its industry sports an average Forward P/E of 10.35, so we one might conclude that WDC is trading at a premium comparatively.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% 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.
To follow WDC in the coming trading sessions, be sure to utilize Zacks.com.
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Western Digital (WDC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Western Digital (WDC - Free Report) closed at $45.05, marking a -0.64% move from the previous day. This change lagged the S&P 500's 1.45% gain on the day. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.78%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 0.44% over the past month, outpacing the Computer and Technology sector's loss of 5.61% and the S&P 500's loss of 7.42% in that time.
Wall Street will be looking for positivity from WDC as it approaches its next earnings report date. In that report, analysts expect WDC to post earnings of $0.94 per share. This would mark year-over-year growth of 452.94%. Meanwhile, our latest consensus estimate is calling for revenue of $4.20 billion, up 14.18% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.13 per share and revenue of $16.76 billion. These totals would mark changes of -35.33% and +1.16%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for WDC. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.07% lower within the past month. WDC is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, WDC is holding a Forward P/E ratio of 14.51. Its industry sports an average Forward P/E of 10.35, so we one might conclude that WDC is trading at a premium comparatively.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% 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.
To follow WDC in the coming trading sessions, be sure to utilize Zacks.com.