Seagate Price Target Cut to $58.00 (STX)
Analysts at BMO Capital Markets cut their price objective on shares of Seagate (NYSE:STX) from $63.00 to $58.00 in a research report issued to clients and investors on Tuesday, American Banking News.com reports. BMO Capital Markets’ price objective indicates a potential downside of 0.09% from the stock’s previous close.
Seagate (NYSE:STX) last issued its quarterly earnings data on Monday, January 27th. The company reported $1.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.39 by $0.07. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 24th. Stockholders of record on Monday, February 10th will be paid a dividend of 0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.96%.
A number of other firms have also recently commented on STX. Analysts at Zacks upgraded shares of Seagate from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $73.00 price target on the stock. Separately, analysts at Morgan Stanley upgraded shares of Seagate from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, January 21st. They now have a $72.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Seagate from $51.00 to $60.00 in a research note to investors on Wednesday, January 15th. They now have a “sector perform” rating on the stock. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Seagate has a consensus rating of “Buy” and a consensus price target of $58.05.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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