Zacks: Analysts Anticipate Seagate Technology PLC (STX) to Announce $1.36 Earnings Per Share

Analysts predict that Seagate Technology PLC (NASDAQ:STX) will post $1.36 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Seagate Technology’s earnings. The lowest EPS estimate is $1.28 and the highest is $1.72. Seagate Technology reported earnings per share of $1.48 in the same quarter last year, which suggests a negative year-over-year growth rate of 8.1%. The business is expected to report its next quarterly earnings results on Monday, February 4th.

According to Zacks, analysts expect that Seagate Technology will report full-year earnings of $5.33 per share for the current financial year, with EPS estimates ranging from $5.00 to $6.07. For the next fiscal year, analysts anticipate that the company will post earnings of $5.45 per share, with EPS estimates ranging from $4.63 to $6.62. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Seagate Technology.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Friday, November 2nd. The data storage provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.15. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.95 billion. Seagate Technology had a net margin of 12.57% and a return on equity of 123.05%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS.

STX has been the topic of several recent analyst reports. BidaskClub downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 5th. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, July 31st. Loop Capital lowered their target price on shares of Seagate Technology to $60.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. They noted that the move was a valuation call. Royal Bank of Canada reissued a “hold” rating and issued a $62.00 target price on shares of Seagate Technology in a research note on Monday, July 30th. Finally, Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Tuesday, July 31st. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company. Seagate Technology presently has a consensus rating of “Hold” and an average price target of $50.91.

Shares of NASDAQ:STX traded down $2.30 during trading on Friday, reaching $43.03. 7,510,500 shares of the company traded hands, compared to its average volume of 4,044,249. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 2.34. Seagate Technology has a 1-year low of $36.69 and a 1-year high of $62.70. The firm has a market capitalization of $13.00 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 0.69 and a beta of 1.71.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 19th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.86%. The ex-dividend date of this dividend is Tuesday, December 18th. Seagate Technology’s dividend payout ratio (DPR) is currently 45.74%.

In other Seagate Technology news, insider Valueact Capital Master Fund, purchased 2,090,783 shares of Seagate Technology stock in a transaction on Monday, August 13th. The shares were acquired at an average cost of $50.94 per share, for a total transaction of $106,504,486.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Holdings L.P. Valueact purchased 509,492 shares of Seagate Technology stock in a transaction on Monday, August 13th. The shares were acquired at an average price of $51.11 per share, for a total transaction of $26,040,136.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 4,055,357 shares of company stock worth $209,385,069 and have sold 46,086 shares worth $2,529,660. 1.00% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its position in Seagate Technology by 26.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 103,643 shares of the data storage provider’s stock valued at $5,582,000 after buying an additional 21,403 shares during the period. Ontario Teachers Pension Plan Board bought a new position in shares of Seagate Technology during the third quarter valued at $2,453,000. Rafferty Asset Management LLC increased its holdings in Seagate Technology by 38.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 40,342 shares of the data storage provider’s stock worth $1,910,000 after buying an additional 11,178 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Seagate Technology by 11.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 57,997 shares of the data storage provider’s stock worth $2,745,000 after buying an additional 5,819 shares in the last quarter. Finally, Girard Partners LTD. bought a new stake in Seagate Technology in the 3rd quarter worth about $108,000. 83.57% of the stock is owned by hedge funds and other institutional investors.

About Seagate Technology

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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