Seagate Price Target Increased to $51.00 by Analysts at RBC Capital (STX)
Analysts at RBC Capital hoisted their price objective on shares of Seagate (NYSE:STX) from $48.00 to $51.00 in a research report issued to clients and investors on Tuesday, AnalystRatings.Net reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price indicates a potential upside of 2.31% from the stock’s previous close.
Shares of Seagate (NYSE:STX) opened at 49.85 on Tuesday. Seagate has a one year low of $24.90 and a one year high of $47.82. The stock has a 50-day moving average of $40.0 and a 200-day moving average of $39.9. The company has a market cap of $17.787 billion and a P/E ratio of 10.36.
Seagate (NYSE:STX) last released its 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 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. On average, analysts predict that Seagate will post $5.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.45%.
STX has been the subject of a number of other recent research reports. Analysts at Pacific Crest raised their price target on shares of Seagate from $53.00 to $58.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Craig Hallum upgraded shares of Seagate from a “sell” rating to a “hold” rating in a research note to investors on Tuesday. Finally, analysts at Needham & Company reiterated a “buy” rating on shares of Seagate in a research note to investors on Tuesday, October 22nd. They now have a $54.00 price target on the stock, up previously from $51.00. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Seagate has an average rating of “Hold” and a consensus price target of $52.44.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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