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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 $86.35, moving -1.12% from the previous trading session. This change lagged the S&P 500's 0.74% loss on the day.
Prior to today's trading, shares of the electronic storage maker had lost 19.67% over the past month. This has lagged the Business Services sector's loss of 10.04% and the S&P 500's loss of 4.6% in that time.
Investors will be hoping for strength from Seagate as it approaches 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 6.41% 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.
Any recent changes to analyst estimates for Seagate should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Seagate is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Seagate is currently trading at a Forward P/E ratio of 9.78. This represents a discount compared to its industry's average Forward P/E of 21.62.
We can also see that STX currently has a PEG ratio of 8.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Technology Services stocks are, on average, holding a PEG ratio of 2.31 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on 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 $86.35, moving -1.12% from the previous trading session. This change lagged the S&P 500's 0.74% loss on the day.
Prior to today's trading, shares of the electronic storage maker had lost 19.67% over the past month. This has lagged the Business Services sector's loss of 10.04% and the S&P 500's loss of 4.6% in that time.
Investors will be hoping for strength from Seagate as it approaches 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 6.41% 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.
Any recent changes to analyst estimates for Seagate should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Seagate is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Seagate is currently trading at a Forward P/E ratio of 9.78. This represents a discount compared to its industry's average Forward P/E of 21.62.
We can also see that STX currently has a PEG ratio of 8.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Technology Services stocks are, on average, holding a PEG ratio of 2.31 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.