Seagate Price Target Increased to $48.00 by Analysts at RBC Capital (STX)
Equities researchers at RBC Capital increased their target price on shares of Seagate (NYSE:STX) from $44.00 to $48.00 in a research report issued on Tuesday, StockRatingsNetwork reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 7.17% from the company’s current price.
Seagate (NYSE:STX) traded down 0.82% on Tuesday, hitting $44.79. The stock had a trading volume of 4,679,316 shares. Seagate has a 1-year low of $24.90 and a 1-year high of $47.82. The stock has a 50-day moving average of $41.18 and a 200-day moving average of $41.11. The company has a market cap of $15.982 billion and a price-to-earnings ratio of 9.39.
Seagate (NYSE:STX) last released its earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the company posted $2.41 earnings per share. The company’s quarterly revenue was down 23.6% on a year-over-year basis. On average, analysts predict that Seagate will post $5.31 earnings per share for the current fiscal year.
A number of other firms have also recently commented on STX. Analysts at FBN Securities raised their price target on shares of Seagate from $45.00 to $50.00 in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Seagate in a research note to investors on Thursday, October 3rd. They now have a $48.00 price target on the stock. Finally, analysts at Pacific Crest upgraded shares of Seagate from a “sector perform” rating to an “outperform” rating in a research note to investors on Wednesday, October 2nd. They now have a $53.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Seagate has an average rating of “Hold” and an average target price of $50.81.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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