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Western Digital (WDC) Registers a Bigger Fall Than the Market: Important Facts to Note
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Western Digital (WDC - Free Report) closed the most recent trading day at $69.42, moving -1.48% from the previous trading session. This change lagged the S&P 500's 0.13% loss on the day. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 0.39%.
The maker of hard drives for businesses and personal computers's stock has climbed by 11.79% in the past month, exceeding the Computer and Technology sector's gain of 2.7% and the S&P 500's gain of 2.43%.
Analysts and investors alike will be keeping a close eye on the performance of Western Digital in its upcoming earnings disclosure. The company is expected to report EPS of $1.72, up 197.73% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.11 billion, reflecting a 49.5% rise from the equivalent quarter last year.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $8.35 per share and revenue of $17.13 billion. These results would represent year-over-year changes of +4275% and +31.77%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Western Digital. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.26% lower within the past month. Western Digital is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Western Digital is holding a Forward P/E ratio of 8.44. This represents a discount compared to its industry's average Forward P/E of 13.48.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Western Digital (WDC) Registers a Bigger Fall Than the Market: Important Facts to Note
Western Digital (WDC - Free Report) closed the most recent trading day at $69.42, moving -1.48% from the previous trading session. This change lagged the S&P 500's 0.13% loss on the day. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 0.39%.
The maker of hard drives for businesses and personal computers's stock has climbed by 11.79% in the past month, exceeding the Computer and Technology sector's gain of 2.7% and the S&P 500's gain of 2.43%.
Analysts and investors alike will be keeping a close eye on the performance of Western Digital in its upcoming earnings disclosure. The company is expected to report EPS of $1.72, up 197.73% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.11 billion, reflecting a 49.5% rise from the equivalent quarter last year.
WDC's full-year Zacks Consensus Estimates are calling for earnings of $8.35 per share and revenue of $17.13 billion. These results would represent year-over-year changes of +4275% and +31.77%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Western Digital. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.26% lower within the past month. Western Digital is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Western Digital is holding a Forward P/E ratio of 8.44. This represents a discount compared to its industry's average Forward P/E of 13.48.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.