Brokerages predict that Seagate Technology PLC (NASDAQ:STX) will post sales of $2.77 billion for the current quarter, according to Zacks. Four analysts have made estimates for Seagate Technology’s earnings, with estimates ranging from $2.73 billion to $2.90 billion. Seagate Technology posted sales of $2.89 billion during the same quarter last year, which would indicate a negative year over year growth rate of 4.2%. The company is expected to report its next earnings report before the market opens on Monday, January 29th.

On average, analysts expect that Seagate Technology will report full year sales of $2.77 billion for the current financial year, with estimates ranging from $10.27 billion to $10.69 billion. For the next financial year, analysts expect that the business will report sales of $10.29 billion per share, with estimates ranging from $9.87 billion to $10.50 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Seagate Technology.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday. TheStreet raised shares of Seagate Technology from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. Cowen reaffirmed a “market perform” rating and issued a $47.00 price objective (up from $39.00) on shares of Seagate Technology in a research report on Monday, January 8th. Loop Capital reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Seagate Technology in a research report on Tuesday, January 9th. They noted that the move was a valuation call. Finally, Royal Bank of Canada upped their price objective on shares of Seagate Technology to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 9th. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $43.39.

Shares of Seagate Technology (NASDAQ STX) opened at $51.26 on Tuesday. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.96 and a quick ratio of 1.55. Seagate Technology has a fifty-two week low of $30.60 and a fifty-two week high of $51.88. The firm has a market cap of $14,830.00, a PE ratio of 19.42, a P/E/G ratio of 0.76 and a beta of 1.68.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.92%. The ex-dividend date was Tuesday, December 19th. Seagate Technology’s dividend payout ratio is presently 95.45%.

In other news, CFO David H. Morton, Jr. sold 7,909 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $40.00, for a total transaction of $316,360.00. Following the sale, the chief financial officer now owns 25,561 shares in the company, valued at approximately $1,022,440. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Stephen J. Luczo sold 100,000 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $48.99, for a total transaction of $4,899,000.00. Following the sale, the chairman now owns 95,420 shares in the company, valued at approximately $4,674,625.80. The disclosure for this sale can be found here. Insiders sold a total of 194,744 shares of company stock worth $9,075,320 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Several institutional investors have recently bought and sold shares of STX. WFG Advisors LP raised its position in shares of Seagate Technology by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after buying an additional 3,638 shares in the last quarter. Balentine LLC raised its position in shares of Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after buying an additional 1,619 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at $150,000. SpiderRock Advisors LLC raised its position in shares of Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after buying an additional 5,347 shares in the last quarter. Finally, New England Research & Management Inc. purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $205,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.

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Seagate Technology Company Profile

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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Earnings History and Estimates for Seagate Technology (NASDAQ:STX)

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