Western Digital Corp Stock Rating Reaffirmed by Citigroup Inc. (WDC)
Western Digital Corp (NYSE:WDC)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a research note issued on Thursday. They currently have a $116.00 price target on the stock, up from their previous price target of $100.00. Citigroup Inc.’s price objective would indicate a potential upside of 16.13% from the company’s current price.
In other Western Digital Corp news, CEO Stephen D. Milligan unloaded 15,996 shares of the stock on the open market in a transaction dated Friday, July 25th. The stock was sold at an average price of $99.44, for a total value of $1,590,642.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Western Digital Corp (NYSE:WDC) traded down 1.27% on Thursday, hitting $99.8899. The stock had a trading volume of 2,214,184 shares. Western Digital Corp has a 52-week low of $59.36 and a 52-week high of $102.89. The stock has a 50-day moving average of $95.8 and a 200-day moving average of $89.38. The company has a market cap of $23.481 billion and a price-to-earnings ratio of 23.64.
Western Digital Corp (NYSE:WDC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.13. 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 previous year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts expect that Western Digital Corp will post $8.33 EPS for the current fiscal year.
A number of other firms have also recently commented on WDC. Analysts at Stifel Nicolaus raised their price target on shares of Western Digital Corp from $105.00 to $120.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Western Digital Corp from $102.00 to $108.00 in a research note on Thursday. Finally, analysts at Pacific Crest raised their price target on shares of Western Digital Corp from $105.00 to $114.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $109.89.
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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