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Western Digital (WDC) Gains As Market Dips: What You Should Know
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In the latest trading session, Western Digital (WDC - Free Report) closed at $50.24, marking a +1.49% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.48%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Prior to today's trading, shares of the maker of hard drives for businesses and personal computers had gained 1.68% over the past month. This has outpaced the Computer and Technology sector's loss of 5.18% and the S&P 500's gain of 0.08% in that time.
Western Digital will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2022. In that report, analysts expect Western Digital to post earnings of $1.49 per share. This would mark year-over-year growth of 46.08%. Our most recent consensus estimate is calling for quarterly revenue of $4.36 billion, up 5.41% from the year-ago period.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $7.95 per share and revenue of $18.87 billion. These results would represent year-over-year changes of +74.73% and +11.54%, respectively.
Investors might also notice recent changes to analyst estimates for Western Digital. These revisions help to show the ever-changing nature of 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Western Digital is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Western Digital is holding a Forward P/E ratio of 6.23. This valuation marks a discount compared to its industry's average Forward P/E of 15.33.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Western Digital (WDC) Gains As Market Dips: What You Should Know
In the latest trading session, Western Digital (WDC - Free Report) closed at $50.24, marking a +1.49% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.48%. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Prior to today's trading, shares of the maker of hard drives for businesses and personal computers had gained 1.68% over the past month. This has outpaced the Computer and Technology sector's loss of 5.18% and the S&P 500's gain of 0.08% in that time.
Western Digital will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2022. In that report, analysts expect Western Digital to post earnings of $1.49 per share. This would mark year-over-year growth of 46.08%. Our most recent consensus estimate is calling for quarterly revenue of $4.36 billion, up 5.41% from the year-ago period.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $7.95 per share and revenue of $18.87 billion. These results would represent year-over-year changes of +74.73% and +11.54%, respectively.
Investors might also notice recent changes to analyst estimates for Western Digital. These revisions help to show the ever-changing nature of 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Western Digital is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Western Digital is holding a Forward P/E ratio of 6.23. This valuation marks a discount compared to its industry's average Forward P/E of 15.33.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.