Seagate Given New $50.00 Price Target at Evercore Partners (STX)
Investment analysts at Evercore Partners raised their price objective on shares of Seagate (NYSE:STX) from $48.00 to $50.00 in a note issued to investors on Tuesday, Analyst RN reports. The firm currently has an “equal weight” rating on the stock. Evercore Partners’ target price suggests a potential upside of 3.63% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets cut their price target on shares of Seagate from $55.00 to $52.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Seagate from $53.00 to $57.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Seagate from $45.00 to $50.00 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Seagate currently has a consensus rating of “Hold” and a consensus price target of $51.94.
Seagate (NYSE:STX) traded down 3.21% during mid-day trading on Tuesday, hitting $48.25. The stock had a trading volume of 8,328,905 shares. Seagate has a 1-year low of $24.90 and a 1-year high of $47.82. The stock’s 50-day moving average is $40.0 and its 200-day moving average is $39.9. The company has a market cap of $17.216 billion and a P/E ratio of 10.36.
Seagate (NYSE:STX) last announced its earnings results on Monday, October 28th. The company reported $1.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.30 by $0.14. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. Analysts expect that Seagate will post $5.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.56%.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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