Seagate PT Raised to $57.00 at Deutsche Bank (STX)
Equities researchers at Deutsche Bank raised their price target on shares of Seagate (NYSE:STX) from $53.00 to $57.00 in a research report issued on Tuesday, StockRatingsNetwork.com reports. Deutsche Bank’s price objective would indicate a potential upside of 14.34% from the company’s current price.
Seagate (NYSE:STX) traded down 3.53% on Tuesday, hitting $48.09. The stock had a trading volume of 5,251,996 shares. Seagate has a 52 week low of $24.90 and a 52 week 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 $17.159 billion and a P/E 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 last year, the company posted $1.45 earnings per share. Seagate’s revenue was down 6.5% compared to the same quarter last year. 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%.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at RBC Capital raised their price target on shares of Seagate from $48.00 to $51.00 in a research note to investors on Tuesday. They now have a “sector perform” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Seagate currently has an average rating of “Hold” and a consensus target price of $52.94.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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