Zacks: Analysts Anticipate Western Digital Corp (NASDAQ:WDC) to Post $0.20 EPS

Equities research analysts expect Western Digital Corp (NASDAQ:WDC) to report earnings of $0.20 per share for the current quarter, according to Zacks. Six analysts have made estimates for Western Digital’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.30. Western Digital reported earnings per share of $3.61 in the same quarter last year, which would indicate a negative year over year growth rate of 94.5%. The company is scheduled to report its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Western Digital will report full-year earnings of $4.85 per share for the current fiscal year, with EPS estimates ranging from $4.74 to $4.95. For the next financial year, analysts expect that the firm will post earnings of $3.48 per share, with EPS estimates ranging from $2.45 to $4.95. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Western Digital.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Monday, April 29th. The data storage provider reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.29). Western Digital had a return on equity of 19.87% and a net margin of 1.10%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the company earned $3.63 earnings per share. Western Digital’s revenue for the quarter was down 26.7% compared to the same quarter last year.

WDC has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price target on shares of Western Digital in a research report on Thursday, March 28th. BidaskClub cut shares of Western Digital from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. ValuEngine cut shares of Western Digital from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Benchmark restated a “hold” rating on shares of Western Digital in a research report on Friday, March 1st. Finally, Cascend Securities upgraded shares of Western Digital from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Friday, February 22nd. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $60.42.

NASDAQ WDC traded down $1.01 on Friday, hitting $36.33. The company’s stock had a trading volume of 5,383,782 shares, compared to its average volume of 6,702,245. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.30 and a current ratio of 2.11. Western Digital has a 1-year low of $33.83 and a 1-year high of $83.78. The stock has a market cap of $10.62 billion, a P/E ratio of 2.69, a price-to-earnings-growth ratio of 4.50 and a beta of 1.66.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Thursday, June 27th. Western Digital’s dividend payout ratio (DPR) is presently 14.80%.

Several institutional investors and hedge funds have recently bought and sold shares of WDC. First Interstate Bank boosted its stake in Western Digital by 159.2% during the first quarter. First Interstate Bank now owns 578 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 355 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in Western Digital by 706.0% during the fourth quarter. Ropes Wealth Advisors LLC now owns 806 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 706 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in Western Digital by 2,500.0% during the first quarter. AdvisorNet Financial Inc now owns 624 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 600 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Western Digital by 57.0% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 650 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 236 shares in the last quarter. Finally, WealthBridge Capital Management LLC bought a new position in Western Digital during the first quarter worth $32,000. Institutional investors own 87.66% of the company’s stock.

Western Digital Company Profile

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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