Wall Street brokerages expect Western Digital (NASDAQ:WDC) to announce earnings per share of $3.26 for the current quarter, according to Zacks. Six analysts have made estimates for Western Digital’s earnings. The highest EPS estimate is $3.34 and the lowest is $3.20. Western Digital reported earnings per share of $2.39 during the same quarter last year, which would suggest a positive year over year growth rate of 36.4%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, April 26th.
On average, analysts expect that Western Digital will report full-year earnings of $13.98 per share for the current financial year, with EPS estimates ranging from $13.70 to $14.27. For the next year, analysts expect that the business will report earnings of $12.33 per share, with EPS estimates ranging from $10.26 to $13.87. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Western Digital.
Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, January 25th. The data storage provider reported $3.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.51 by $0.44. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Western Digital had a return on equity of 30.78% and a net margin of 1.93%. Western Digital’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.30 EPS.
Several equities analysts have recently weighed in on the company. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of Western Digital in a report on Tuesday, December 26th. Royal Bank of Canada reiterated a “buy” rating on shares of Western Digital in a report on Friday, December 22nd. Barclays lifted their price target on Western Digital from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, March 27th. Stifel Nicolaus reiterated a “buy” rating and set a $105.00 price target on shares of Western Digital in a report on Thursday, February 22nd. Finally, BidaskClub upgraded Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Ten investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the company. Western Digital has an average rating of “Buy” and a consensus price target of $111.37.
Shares of NASDAQ WDC traded up $0.86 during mid-day trading on Thursday, hitting $91.38. The company had a trading volume of 1,164,910 shares, compared to its average volume of 3,998,043. The stock has a market capitalization of $26,759.60, a price-to-earnings ratio of 11.57, a PEG ratio of 0.37 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.55 and a quick ratio of 2.03. Western Digital has a one year low of $76.59 and a one year high of $106.96.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Friday, March 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $2.00 annualized dividend and a yield of 2.19%. Western Digital’s dividend payout ratio is currently 25.32%.
In other Western Digital news, CEO Stephen D. Milligan sold 16,511 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $84.00, for a total transaction of $1,386,924.00. Following the sale, the chief executive officer now owns 156,882 shares of the company’s stock, valued at $13,178,088. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen D. Milligan sold 90,755 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $88.12, for a total transaction of $7,997,330.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,704 shares of company stock valued at $23,780,295. Company insiders own 0.31% of the company’s stock.
Several institutional investors have recently modified their holdings of WDC. Buckingham Capital Management Inc. grew its stake in shares of Western Digital by 53.6% in the third quarter. Buckingham Capital Management Inc. now owns 30,419 shares of the data storage provider’s stock worth $2,628,000 after purchasing an additional 10,618 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in Western Digital by 257.7% in the third quarter. Engineers Gate Manager LP now owns 9,546 shares of the data storage provider’s stock valued at $825,000 after buying an additional 6,877 shares during the period. Magnetar Financial LLC acquired a new position in Western Digital in the third quarter valued at $587,000. Oppenheimer Asset Management Inc. lifted its holdings in Western Digital by 4.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 21,153 shares of the data storage provider’s stock valued at $1,828,000 after buying an additional 834 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in Western Digital by 54.7% in the third quarter. Cubist Systematic Strategies LLC now owns 42,316 shares of the data storage provider’s stock valued at $3,656,000 after buying an additional 14,964 shares during the period. 84.65% of the stock is currently owned by institutional investors.
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Western Digital Company Profile
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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