We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Western Digital (WDC) Exceeds Market Returns: Some Facts to Consider
Read MoreHide Full Article
In the latest market close, Western Digital (WDC - Free Report) reached $73.43, with a +0.6% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.25%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq added 0.97%.
The maker of hard drives for businesses and personal computers's shares have seen an increase of 10.79% over the last month, surpassing the Computer and Technology sector's gain of 0.06% and the S&P 500's gain of 3.51%.
The investment community will be paying close attention to the earnings performance of Western Digital in its upcoming release. The company is predicted to post an EPS of $1.91, indicating a 376.81% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.3 billion, reflecting a 41.8% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $7.32 per share and a revenue of $16.74 billion, signifying shifts of +3760% and +28.74%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Western Digital. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Western Digital possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Western Digital has a Forward P/E ratio of 9.97 right now. For comparison, its industry has an average Forward P/E of 13.31, which means Western Digital is trading at a discount to the group.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Western Digital (WDC) Exceeds Market Returns: Some Facts to Consider
In the latest market close, Western Digital (WDC - Free Report) reached $73.43, with a +0.6% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.25%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq added 0.97%.
The maker of hard drives for businesses and personal computers's shares have seen an increase of 10.79% over the last month, surpassing the Computer and Technology sector's gain of 0.06% and the S&P 500's gain of 3.51%.
The investment community will be paying close attention to the earnings performance of Western Digital in its upcoming release. The company is predicted to post an EPS of $1.91, indicating a 376.81% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.3 billion, reflecting a 41.8% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $7.32 per share and a revenue of $16.74 billion, signifying shifts of +3760% and +28.74%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Western Digital. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Western Digital possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Western Digital has a Forward P/E ratio of 9.97 right now. For comparison, its industry has an average Forward P/E of 13.31, which means Western Digital is trading at a discount to the group.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.