Seagate Rating Lowered to Neutral at Zacks (STX)
Seagate (NYSE:STX) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Friday, StockRatingsNetwork.com reports. They currently have a $53.00 price objective on the stock. Zacks‘ target price indicates a potential upside of 5.96% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital upgraded shares of Seagate from a “sector perform” rating to an “outperform” rating in a research note on Friday. They now have a $60.00 price target on the stock, up previously from $59.00. Separately, analysts at Deutsche Bank cut their price target on shares of Seagate from $71.00 to $68.00 in a research note on Tuesday, January 28th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Seagate from $63.00 to $58.00 in a research note on Tuesday, January 28th. They now have a “market perform” rating on the stock. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Seagate presently has a consensus rating of “Buy” and a consensus price target of $56.84.
Seagate (NYSE:STX) traded up 1.77% on Friday, hitting $50.9038. The stock had a trading volume of 1,986,092 shares. Seagate has a one year low of $30.26 and a one year high of $62.76. The stock’s 50-day moving average is $54. and its 200-day moving average is $48.1. The company has a market cap of $16.735 billion and a P/E ratio of 11.26.
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. Seagate’s revenue was down 3.8% compared to the same quarter last year. Analysts expect that Seagate will post $5.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 24th. Shareholders of record on Monday, February 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, February 6th.
In other Seagate news, EVP David Richarz sold 5,300 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $49.61, for a total transaction of $262,933.00. Following the sale, the executive vice president now directly owns 6,641 shares of the company’s stock, valued at approximately $329,460. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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