Western Digital Corp Receives Consensus Recommendation of “Buy” from Analysts (NYSE:WDC)
Shares of Western Digital Corp (NYSE:WDC) have earned an average recommendation of “Buy” from the twenty brokerages that are covering the company, Analyst Ratings.Net reports. 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 company. The average 1-year target price among brokers that have covered the stock in the last year is $110.79.
Western Digital Corp (NYSE:WDC) traded down 0.37% on Tuesday, hitting $102.63. 285,231 shares of the company’s stock traded hands. Western Digital Corp has a one year low of $62.00 and a one year high of $103.51. The stock has a 50-day moving average of $100.5 and a 200-day moving average of $91.66. The company has a market cap of $24.017 billion and a P/E ratio of 15.42.
Western Digital Corp (NYSE:WDC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.85 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.96 earnings per share. Western Digital Corp’s revenue was down 2.1% compared to the same quarter last year. On average, analysts predict that Western Digital Corp will post $8.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, October 1st.
In other Western Digital Corp news, Director Michael D. Lambert sold 14,352 shares of Western Digital Corp stock on the open market in a transaction dated Thursday, August 21st. The stock was sold at an average price of $100.37, for a total value of $1,440,510.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on WDC. Analysts at Zacks reiterated a “neutral” rating on shares of Western Digital Corp in a research note on Friday. They now have a $107.00 price target on the stock. Separately, 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. Finally, 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.
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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