Seagate Technology PLC (STX) Expected to Announce Earnings of $0.71 Per Share

Wall Street analysts predict that Seagate Technology PLC (NASDAQ:STX) will post $0.71 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Seagate Technology’s earnings, with estimates ranging from $0.69 to $0.74. Seagate Technology posted earnings per share of $1.46 during the same quarter last year, which indicates a negative year over year growth rate of 51.4%. The business is expected to report its next earnings results on Tuesday, May 7th.

On average, analysts expect that Seagate Technology will report full year earnings of $4.66 per share for the current financial year, with EPS estimates ranging from $4.57 to $4.79. For the next financial year, analysts expect that the company will report earnings of $4.73 per share, with EPS estimates ranging from $3.75 to $5.64. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Seagate Technology.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Monday, February 4th. The data storage provider reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.71 billion. Seagate Technology had a net margin of 14.77% and a return on equity of 105.74%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period last year, the firm posted $1.48 earnings per share.

Several research firms have recently weighed in on STX. BidaskClub downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Tuesday, February 5th. Zacks Investment Research raised shares of Seagate Technology from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. ValuEngine downgraded shares of Seagate Technology from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 17th. Finally, Deutsche Bank started coverage on shares of Seagate Technology in a research note on Thursday, December 13th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $45.33.

In other news, Director Stephen J. Luczo sold 50,000 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $46.09, for a total transaction of $2,304,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James J. Murphy sold 20,832 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $45.75, for a total transaction of $953,064.00. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,700,000 shares of company stock worth $166,497,500 and sold 120,832 shares worth $5,541,064. 1.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in Seagate Technology during the 4th quarter worth about $75,000. Essex Savings Bank bought a new position in shares of Seagate Technology during the fourth quarter valued at about $70,000. Certified Advisory Corp grew its stake in shares of Seagate Technology by 17.5% during the fourth quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock valued at $78,000 after buying an additional 302 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Seagate Technology during the fourth quarter valued at about $159,000. Finally, Lavaca Capital LLC bought a new position in shares of Seagate Technology during the fourth quarter valued at about $177,000. Institutional investors and hedge funds own 95.97% of the company’s stock.

NASDAQ:STX opened at $47.89 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $13.37 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 4.92 and a beta of 1.65. Seagate Technology has a twelve month low of $35.38 and a twelve month high of $62.70.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $2.52 dividend on an annualized basis and a yield of 5.26%. Seagate Technology’s dividend payout ratio (DPR) is 45.74%.

About Seagate Technology

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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