Western Digital (NASDAQ:WDC) is scheduled to post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Western Digital to post earnings of $0.25 per share for the quarter. Western Digital has set its Q3 guidance at $0.40-0.60 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, January 24th. The data storage provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.18. Western Digital had a net margin of 4.34% and a return on equity of 28.88%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the previous year, the company earned $3.95 earnings per share. Western Digital’s quarterly revenue was down 20.7% on a year-over-year basis. On average, analysts expect Western Digital to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of NASDAQ WDC opened at $55.39 on Monday. Western Digital has a 1 year low of $33.83 and a 1 year high of $91.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.45 and a current ratio of 2.24. The stock has a market cap of $16.11 billion, a P/E ratio of 4.10, a P/E/G ratio of 0.63 and a beta of 1.48.
Several equities analysts recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of Western Digital in a research report on Friday, March 29th. They set a “market perform” rating on the stock. Loop Capital boosted their price target on shares of Western Digital to $53.00 and gave the company an “average” rating in a research report on Tuesday, April 9th. Longbow Research upgraded shares of Western Digital from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Monday, April 15th. Zacks Investment Research cut shares of Western Digital from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Goldman Sachs Group boosted their price target on shares of Western Digital from $42.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Western Digital presently has a consensus rating of “Hold” and a consensus price target of $64.79.
In related news, insider Mark P. Long sold 17,623 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $50.00, for a total transaction of $881,150.00. Following the sale, the insider now owns 158,744 shares of the company’s stock, valued at $7,937,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.
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About Western Digital
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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