Wall Street analysts expect Seagate Technology PLC (NASDAQ:STX) to report earnings per share of $1.36 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Seagate Technology’s earnings. The highest EPS estimate is $1.72 and the lowest is $1.28. Seagate Technology posted earnings of $1.48 per share in the same quarter last year, which would suggest a negative year over year growth rate of 8.1%. The business is scheduled to announce its next earnings report 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 fiscal 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’ earnings per share averages are a mean average based on a survey of research analysts that cover Seagate Technology.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results 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. Seagate Technology had a return on equity of 123.05% and a net margin of 12.57%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year.
A number of research analysts have recently commented on the company. Zacks Investment Research reiterated a “hold” rating on shares of Seagate Technology in a report on Friday, November 16th. Longbow Research reiterated a “hold” rating on shares of Seagate Technology in a report on Monday, November 12th. Maxim Group cut their price target on Seagate Technology from $54.00 to $51.00 and set a “hold” rating for the company in a report on Wednesday, November 7th. BidaskClub upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Finally, Morgan Stanley cut their target price on Seagate Technology from $73.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, November 5th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the stock. Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $50.91.
Shares of STX stock traded up $0.44 during trading hours on Friday, reaching $43.09. 4,698,958 shares of the company’s stock were exchanged, compared to its average volume of 4,217,292. Seagate Technology has a fifty-two week low of $36.69 and a fifty-two week high of $62.70. The firm has a market cap of $12.33 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 0.65 and a beta of 1.71. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 2.34.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 19th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, December 18th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.85%. Seagate Technology’s payout ratio is 45.74%.
In related news, Director Holdings L.P. Valueact purchased 365,671 shares of the stock in a transaction on Tuesday, November 20th. The shares were purchased at an average cost of $41.84 per share, for a total transaction of $15,299,674.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Valueact Capital Master Fund, purchased 124,127 shares of the stock in a transaction on Friday, November 30th. The stock was bought at an average price of $41.95 per share, for a total transaction of $5,207,127.65. The disclosure for this purchase can be found here. Insiders acquired 990,426 shares of company stock worth $41,467,928 over the last quarter. Company insiders own 1.00% of the company’s stock.
A number of large investors have recently made changes to their positions in STX. WESPAC Advisors SoCal LLC bought a new stake in shares of Seagate Technology during the third quarter worth $108,000. Girard Partners LTD. bought a new stake in shares of Seagate Technology during the third quarter worth $108,000. Quad Cities Investment Group LLC bought a new stake in shares of Seagate Technology during the second quarter worth $124,000. Partners Capital Investment Group LLP bought a new stake in shares of Seagate Technology during the second quarter worth $136,000. Finally, First Hawaiian Bank bought a new stake in shares of Seagate Technology during the third quarter worth $139,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.
Seagate Technology Company Profile
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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