Analysts Expect Seagate Technology PLC (STX) to Announce $1.15 EPS
Analysts expect Seagate Technology PLC (NASDAQ:STX) to announce earnings of $1.15 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Seagate Technology PLC’s earnings, with estimates ranging from $1.09 to $1.31. Seagate Technology PLC reported earnings per share of $1.38 in the same quarter last year, which suggests a negative year-over-year growth rate of 16.7%. The firm is scheduled to report its next quarterly earnings results on Tuesday, January 23rd.
On average, analysts expect that Seagate Technology PLC will report full year earnings of $3.98 per share for the current fiscal year, with EPS estimates ranging from $3.51 to $4.62. For the next financial year, analysts expect that the firm will report earnings of $4.27 per share, with EPS estimates ranging from $3.58 to $5.00. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Seagate Technology PLC.
Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year.
A number of research firms recently commented on STX. Vetr upgraded Seagate Technology PLC from a “buy” rating to a “strong-buy” rating and set a $41.39 price target for the company in a research note on Monday. Maxim Group reiterated a “hold” rating and issued a $38.00 price target on shares of Seagate Technology PLC in a research note on Tuesday, October 24th. FBN Securities reiterated a “sector perform” rating and issued a $40.00 price target (up from $32.00) on shares of Seagate Technology PLC in a research note on Monday, October 23rd. Zacks Investment Research upgraded Seagate Technology PLC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, UBS AG lifted their price target on Seagate Technology PLC from $28.00 to $30.00 and gave the stock a “sell” rating in a research note on Tuesday, October 24th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $41.29.
Shares of Seagate Technology PLC (STX) traded down $0.63 during midday trading on Friday, hitting $36.33. The stock had a trading volume of 2,278,186 shares, compared to its average volume of 6,517,014. Seagate Technology PLC has a twelve month low of $30.60 and a twelve month high of $50.96. The stock has a market capitalization of $10,510.96, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 0.48 and a beta of 1.68. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 annualized dividend and a dividend yield of 6.94%. Seagate Technology PLC’s dividend payout ratio is currently 95.09%.
In other news, insider Jeffrey D. Nygaard acquired 5,000 shares of the stock in a transaction on Friday, October 27th. The shares were purchased at an average cost of $37.38 per share, for a total transaction of $186,900.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dambisa F. Moyo sold 8,715 shares of Seagate Technology PLC stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total transaction of $339,972.15. Following the transaction, the director now owns 3,316 shares in the company, valued at $129,357.16. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. WFG Advisors LP grew its position in Seagate Technology PLC by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 3,638 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Seagate Technology PLC during the 2nd quarter worth approximately $150,000. First Quadrant L P CA purchased a new position in Seagate Technology PLC during the 2nd quarter worth approximately $153,000. Amalgamated Bank purchased a new position in Seagate Technology PLC during the 1st quarter worth approximately $215,000. Finally, SpiderRock Advisors LLC grew its position in Seagate Technology PLC by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after purchasing an additional 5,347 shares in the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.
About Seagate Technology PLC
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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