$5.11 Billion in Sales Expected for Western Digital Corporation (WDC) This Quarter

Wall Street analysts expect Western Digital Corporation (NASDAQ:WDC) to announce sales of $5.11 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Western Digital Corporation’s earnings. The lowest sales estimate is $5.07 billion and the highest is $5.16 billion. Western Digital Corporation posted sales of $4.71 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The business is scheduled to issue its next earnings results on Wednesday, October 25th.

On average, analysts expect that Western Digital Corporation will report full-year sales of $5.11 billion for the current year, with estimates ranging from $19.17 billion to $21.58 billion. For the next year, analysts anticipate that the company will post sales of $20.61 billion per share, with estimates ranging from $20.23 billion to $20.99 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Western Digital Corporation.

Western Digital Corporation (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.51 by $0.42. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share.

Several equities research analysts have recently commented on the company. Susquehanna Bancshares Inc restated a “positive” rating and issued a $140.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, May 17th. Maxim Group restated a “buy” rating and issued a $108.00 price objective on shares of Western Digital Corporation in a research note on Wednesday, June 21st. UBS AG restated a “neutral” rating and issued a $92.00 price objective (up from $90.00) on shares of Western Digital Corporation in a research note on Wednesday, June 28th. Vetr upgraded Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $100.00 price objective for the company in a research note on Tuesday. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $115.00 price objective on shares of Western Digital Corporation in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $111.34.

ILLEGAL ACTIVITY WARNING: “$5.11 Billion in Sales Expected for Western Digital Corporation (WDC) This Quarter” was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and international trademark & copyright legislation. The original version of this piece of content can be read at https://sportsperspectives.com/2017/09/13/5-11-billion-in-sales-expected-for-western-digital-corporation-wdc-this-quarter.html.

Western Digital Corporation (NASDAQ:WDC) opened at 88.78 on Wednesday. The stock has a 50 day moving average price of $86.56 and a 200 day moving average price of $85.90. The stock has a market capitalization of $25.92 billion, a PE ratio of 66.25 and a beta of 1.21. Western Digital Corporation has a 12 month low of $51.52 and a 12 month high of $95.77.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s payout ratio is currently 156.25%.

In other news, EVP Srinivasan Sivaram sold 16,049 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $85.06, for a total transaction of $1,365,127.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark P. Long sold 1,517 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $80.97, for a total transaction of $122,831.49. Following the transaction, the chief financial officer now directly owns 88,207 shares in the company, valued at $7,142,120.79. The disclosure for this sale can be found here. In the last three months, insiders sold 133,445 shares of company stock valued at $11,728,114. 0.46% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of Western Digital Corporation by 1.0% during the first quarter. Arizona State Retirement System now owns 71,313 shares of the data storage provider’s stock worth $5,885,000 after acquiring an additional 700 shares during the period. Hillsdale Investment Management Inc. increased its position in shares of Western Digital Corporation by 16.9% during the first quarter. Hillsdale Investment Management Inc. now owns 5,610 shares of the data storage provider’s stock worth $463,000 after acquiring an additional 810 shares during the period. Korea Investment CORP increased its position in shares of Western Digital Corporation by 14.7% during the second quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock worth $52,721,000 after acquiring an additional 76,459 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Western Digital Corporation by 18.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,329 shares of the data storage provider’s stock worth $5,965,000 after acquiring an additional 10,428 shares during the period. Finally, L & S Advisors Inc increased its position in shares of Western Digital Corporation by 0.6% during the first quarter. L & S Advisors Inc now owns 114,928 shares of the data storage provider’s stock worth $9,485,000 after acquiring an additional 648 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Corporation Company Profile

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).

Get a free copy of the Zacks research report on Western Digital Corporation (WDC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Latest News

Leave a Reply