Western Digital Corp (WDC) Announces Quarterly Results
Western Digital Corp (NYSE:WDC) released its earnings data on Wednesday. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.72 by $0.13, AnalystRatings.NET reports. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis.
Western Digital Corp (NYSE:WDC) traded up 0.38% on Wednesday, hitting $101.17. 2,604,743 shares of the company’s stock traded hands. Western Digital Corp has a 52-week low of $59.36 and a 52-week high of $102.11. The stock has a 50-day moving average of $95.25 and a 200-day moving average of $89.22. The company has a market cap of $23.782 billion and a price-to-earnings ratio of 23.55.
A number of analysts have recently weighed in on WDC shares. Analysts at Robert W. Baird upgraded shares of Western Digital Corp from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 16th. They now have a $120.00 price target on the stock, up previously from $95.00. On the ratings front, analysts at Susquehanna initiated coverage on shares of Western Digital Corp in a research note on Monday, July 14th. They set a “positive” rating and a $130.00 price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Western Digital Corp from $100.00 to $118.00 in a research note on Monday, July 14th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $104.82.
In other Western Digital Corp news, CEO Stephen D. Milligan sold 15,996 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $99.44, for a total transaction of $1,590,642.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Western Digital Corporation (NYSE:WDC) is a developer and manufacturer of storage solutions, which enables people to create, manage, experience and preserve digital content.
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