Western Digital Corporation (WDC) Set to Announce Quarterly Earnings on Thursday
Western Digital Corporation (NASDAQ:WDC) will be issuing its quarterly earnings data after the market closes on Thursday, October 26th. Analysts expect the company to announce earnings of $3.20 per share for the quarter.
Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. On average, analysts expect Western Digital Corporation to post $12.40 EPS for the current fiscal year and $11.57 EPS for the next fiscal year.
Western Digital Corporation (NASDAQ:WDC) opened at 85.50 on Thursday. Western Digital Corporation has a 1-year low of $52.62 and a 1-year high of $95.77. The stock has a 50 day moving average price of $86.77 and a 200 day moving average price of $87.58. The company has a market cap of $25.21 billion, a PE ratio of 63.81 and a beta of 1.24.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.34%. Western Digital Corporation’s dividend payout ratio is 156.25%.
In related news, EVP Srinivasan Sivaram sold 3,098 shares of Western Digital Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $85.00, for a total value of $263,330.00. Following the sale, the executive vice president now owns 74,741 shares of the company’s stock, valued at $6,352,985. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael D. Cordano sold 9,404 shares of Western Digital Corporation stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $88.71, for a total value of $834,228.84. Following the completion of the sale, the insider now directly owns 75,385 shares in the company, valued at approximately $6,687,403.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,679 shares of company stock worth $6,561,639. 0.31% of the stock is owned by company insiders.
Several equities research analysts have recently commented on the company. UBS AG reissued a “neutral” rating and issued a $92.00 target price (up from $90.00) on shares of Western Digital Corporation in a research note on Wednesday, June 28th. Maxim Group reissued a “buy” rating and issued a $108.00 target price on shares of Western Digital Corporation in a research note on Wednesday, June 21st. Susquehanna Bancshares Inc reissued a “positive” rating on shares of Western Digital Corporation in a research note on Friday, June 30th. FBN Securities lifted their target price on Western Digital Corporation from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, June 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Western Digital Corporation in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and three have assigned a strong buy rating to the stock. Western Digital Corporation has a consensus rating of “Buy” and a consensus price target of $111.50.
About Western Digital Corporation
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
Receive News & Ratings for Western Digital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.