Western Digital Corp Receives “Neutral” Rating from Zacks (WDC)
Western Digital Corp (NYSE:WDC)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Friday. They currently have a $107.00 price objective on the stock. Zacks‘s target price would suggest a potential upside of 4.83% from the stock’s previous close.
Western Digital Corp (NYSE:WDC) traded up 0.96% during mid-day trading on Friday, hitting $103.05. 632,213 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 $103.51. The stock has a 50-day moving average of $100.1 and a 200-day moving average of $91.53. The company has a market cap of $24.115 billion and a price-to-earnings ratio of 15.28.
Western Digital Corp (NYSE:WDC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters 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 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. On average, analysts predict that Western Digital Corp will post $8.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Friday, October 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Wednesday, October 1st.
In other Western Digital Corp news, Director Michael D. Lambert unloaded 14,352 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $100.37, for a total value of $1,440,510.24. The sale was disclosed in a filing with the SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna raised their price target on shares of Western Digital Corp from $130.00 to $133.00 in a research note on Tuesday, August 5th. They now have a “positive” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Western Digital Corp in a research note on Thursday, July 31st. They now have a $116.00 price target on the stock, up previously from $100.00. Finally, 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, July 31st. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $110.79.
Western Digital Corporation (NYSE:WDC) is a developer and manufacturer of storage solutions, which enables people to create, manage, experience and preserve digital content.
To view Zacks’ full report, visit Zacks’ official website.
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