Seagate Price Target Increased to $36.00 by Analysts at JPMorgan Chase & Co. (STX)
Equities researchers at JPMorgan Chase & Co. boosted their price objective on shares of Seagate (NYSE:STX) from $25.00 to $36.00 in a research report issued on Tuesday, Analyst Ratings Net reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.’s price objective points to a potential downside of 25.39% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Evercore Partners raised their price target on shares of Seagate from $48.00 to $50.00 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $51.94.
Shares of Seagate (NYSE:STX) traded down 3.21% during mid-day trading on Tuesday, hitting $48.25. 8,328,905 shares of the company’s stock traded hands. 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 price-to-earnings ratio of 10.36.
Seagate (NYSE:STX) last issued its quarterly earnings data on Monday, October 28th. The company reported $1.16 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, analysts predict that Seagate will post $5.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 26th. Stockholders 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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