We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Western Digital (WDC) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
The most recent trading session ended with Western Digital (WDC - Free Report) standing at $73.94, reflecting a -1.39% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.15%. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.17%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 3.28% over the past month, lagging the Computer and Technology sector's gain of 5.13% and outpacing the S&P 500's gain of 3.2% in that time.
The investment community will be closely monitoring the performance of Western Digital in its forthcoming earnings report. The company is expected to report EPS of $1.02, up 151.52% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.72 billion, up 39.37% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.84 per share and a revenue of $12.81 billion, signifying shifts of +76.6% and +3.96%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Western Digital. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Western Digital is currently sporting a Zacks Rank of #2 (Buy).
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WDC in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Western Digital (WDC) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Western Digital (WDC - Free Report) standing at $73.94, reflecting a -1.39% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.15%. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.17%.
Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 3.28% over the past month, lagging the Computer and Technology sector's gain of 5.13% and outpacing the S&P 500's gain of 3.2% in that time.
The investment community will be closely monitoring the performance of Western Digital in its forthcoming earnings report. The company is expected to report EPS of $1.02, up 151.52% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.72 billion, up 39.37% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.84 per share and a revenue of $12.81 billion, signifying shifts of +76.6% and +3.96%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Western Digital. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Western Digital is currently sporting a Zacks Rank of #2 (Buy).
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WDC in the coming trading sessions, be sure to utilize Zacks.com.