Equities analysts forecast that Seagate Technology PLC (NASDAQ:STX) will report earnings of $0.89 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Seagate Technology’s earnings. The highest EPS estimate is $0.93 and the lowest is $0.78. Seagate Technology reported earnings per share of $1.70 during the same quarter last year, which indicates a negative year over year growth rate of 47.6%. The company is scheduled to announce its next quarterly earnings results on Friday, November 1st.
According to Zacks, analysts expect that Seagate Technology will report full year earnings of $4.52 per share for the current year, with EPS estimates ranging from $3.84 to $6.04. For the next fiscal year, analysts forecast that the company will post earnings of $5.16 per share, with EPS estimates ranging from $4.20 to $5.70. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Seagate Technology.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the firm posted $1.62 EPS. The firm’s revenue was down 16.4% compared to the same quarter last year.
A number of research firms have recently issued reports on STX. Cleveland Research began coverage on shares of Seagate Technology in a research report on Friday, June 7th. They issued a “hold” rating on the stock. Barclays began coverage on shares of Seagate Technology in a research report on Wednesday, August 7th. They issued an “underweight” rating and a $37.00 price target on the stock. Goldman Sachs Group set a $37.00 price target on shares of Seagate Technology and gave the stock a “sell” rating in a research report on Sunday, July 21st. Cowen restated a “market perform” rating and issued a $40.00 price target (down from $47.00) on shares of Seagate Technology in a research report on Monday, August 5th. Finally, Craig Hallum upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Wednesday, May 1st. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.95.
Shares of Seagate Technology stock traded up $1.45 during trading hours on Monday, reaching $46.03. The company’s stock had a trading volume of 2,080,100 shares, compared to its average volume of 2,655,662. The company’s 50 day simple moving average is $46.68 and its 200 day simple moving average is $46.49. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.52 and a current ratio of 1.95. Seagate Technology has a one year low of $35.38 and a one year high of $57.20. The stock has a market cap of $12.01 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 8.16 and a beta of 1.70.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.47%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.28%.
In other Seagate Technology news, Director Stephen J. Luczo sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Luczo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $47.21, for a total transaction of $236,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock worth $1,180,150. Corporate insiders own 1.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in STX. Covington Capital Management acquired a new position in shares of Seagate Technology in the 2nd quarter worth approximately $26,000. Front Row Advisors LLC grew its stake in shares of Seagate Technology by 91.0% in the 1st quarter. Front Row Advisors LLC now owns 573 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 273 shares during the last quarter. First Interstate Bank acquired a new position in shares of Seagate Technology in the 1st quarter worth approximately $31,000. CWM LLC grew its stake in shares of Seagate Technology by 61.3% in the 2nd quarter. CWM LLC now owns 789 shares of the data storage provider’s stock worth $37,000 after purchasing an additional 300 shares during the last quarter. Finally, HM Payson & Co. acquired a new position in shares of Seagate Technology in the 2nd quarter worth approximately $38,000. 87.90% of the stock is currently owned by hedge funds and other institutional investors.
Seagate Technology Company Profile
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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