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Seagate (STX) Dips More Than Broader Markets: What You Should Know
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Seagate (STX - Free Report) closed the most recent trading day at $103.18, moving -1.41% from the previous trading session. This change lagged the S&P 500's 0.79% loss on the day. Meanwhile, the Dow lost 0.53%, and the Nasdaq, a tech-heavy index, lost 0.46%.
Prior to today's trading, shares of the electronic storage maker had lost 3.24% over the past month. This has was narrower than the Business Services sector's loss of 6.43% and lagged the S&P 500's loss of 2.43% in that time.
Seagate will be looking to display strength as it nears its next earnings release. On that day, Seagate is projected to report earnings of $2.03 per share, which would represent year-over-year growth of 37.16%. Meanwhile, our latest consensus estimate is calling for revenue of $2.91 billion, up 6.39% from the prior-year quarter.
STX's full-year Zacks Consensus Estimates are calling for earnings of $8.93 per share and revenue of $12.08 billion. These results would represent year-over-year changes of +58.33% and +13.08%, respectively.
Investors should also note any recent changes to analyst estimates for Seagate. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Seagate is currently a Zacks Rank #3 (Hold).
Digging into valuation, Seagate currently has a Forward P/E ratio of 11.72. Its industry sports an average Forward P/E of 22.47, so we one might conclude that Seagate is trading at a discount comparatively.
Also, we should mention that STX has a PEG ratio of 9.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services industry currently had an average PEG ratio of 1.91 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow STX in the coming trading sessions, be sure to utilize Zacks.com.
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Seagate (STX) Dips More Than Broader Markets: What You Should Know
Seagate (STX - Free Report) closed the most recent trading day at $103.18, moving -1.41% from the previous trading session. This change lagged the S&P 500's 0.79% loss on the day. Meanwhile, the Dow lost 0.53%, and the Nasdaq, a tech-heavy index, lost 0.46%.
Prior to today's trading, shares of the electronic storage maker had lost 3.24% over the past month. This has was narrower than the Business Services sector's loss of 6.43% and lagged the S&P 500's loss of 2.43% in that time.
Seagate will be looking to display strength as it nears its next earnings release. On that day, Seagate is projected to report earnings of $2.03 per share, which would represent year-over-year growth of 37.16%. Meanwhile, our latest consensus estimate is calling for revenue of $2.91 billion, up 6.39% from the prior-year quarter.
STX's full-year Zacks Consensus Estimates are calling for earnings of $8.93 per share and revenue of $12.08 billion. These results would represent year-over-year changes of +58.33% and +13.08%, respectively.
Investors should also note any recent changes to analyst estimates for Seagate. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Seagate is currently a Zacks Rank #3 (Hold).
Digging into valuation, Seagate currently has a Forward P/E ratio of 11.72. Its industry sports an average Forward P/E of 22.47, so we one might conclude that Seagate is trading at a discount comparatively.
Also, we should mention that STX has a PEG ratio of 9.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services industry currently had an average PEG ratio of 1.91 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow STX in the coming trading sessions, be sure to utilize Zacks.com.