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Seagate (STX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Seagate (STX - Free Report) closed at $93.65, marking a +1.36% move from the previous day. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Heading into today, shares of the electronic storage maker had lost 10.44% over the past month, lagging the Business Services sector's gain of 2.25% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from Seagate as it approaches its next earnings report date. On that day, Seagate is projected to report earnings of $1.98 per share, which would represent year-over-year growth of 33.78%. Our most recent consensus estimate is calling for quarterly revenue of $2.87 billion, up 5.13% from the year-ago period.
STX's full-year Zacks Consensus Estimates are calling for earnings of $8.87 per share and revenue of $12.03 billion. These results would represent year-over-year changes of +57.27% and +12.66%, respectively.
Investors should also note any recent changes to analyst estimates for Seagate. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.15% lower. Seagate currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Seagate is holding a Forward P/E ratio of 10.42. This valuation marks a discount compared to its industry's average Forward P/E of 22.51.
It is also worth noting that STX currently has a PEG ratio of 8.61. 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 2.25 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Seagate (STX - Free Report) closed at $93.65, marking a +1.36% move from the previous day. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.44%.
Heading into today, shares of the electronic storage maker had lost 10.44% over the past month, lagging the Business Services sector's gain of 2.25% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from Seagate as it approaches its next earnings report date. On that day, Seagate is projected to report earnings of $1.98 per share, which would represent year-over-year growth of 33.78%. Our most recent consensus estimate is calling for quarterly revenue of $2.87 billion, up 5.13% from the year-ago period.
STX's full-year Zacks Consensus Estimates are calling for earnings of $8.87 per share and revenue of $12.03 billion. These results would represent year-over-year changes of +57.27% and +12.66%, respectively.
Investors should also note any recent changes to analyst estimates for Seagate. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.15% lower. Seagate currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Seagate is holding a Forward P/E ratio of 10.42. This valuation marks a discount compared to its industry's average Forward P/E of 22.51.
It is also worth noting that STX currently has a PEG ratio of 8.61. 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 2.25 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% 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.