Brokerages Anticipate Seagate Technology PLC (STX) to Post $1.15 EPS

Analysts predict that Seagate Technology PLC (NASDAQ:STX) will post earnings of $1.15 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Seagate Technology’s earnings. The highest EPS estimate is $1.31 and the lowest is $1.09. Seagate Technology posted earnings per share of $1.38 during the same quarter last year, which would indicate a negative year over year growth rate of 16.7%. The company is expected to announce its next earnings results on Tuesday, January 23rd.

On average, analysts expect that Seagate Technology will report full year earnings of $3.99 per share for the current fiscal year, with EPS estimates ranging from $3.51 to $4.62. For the next financial year, analysts anticipate that the firm will post earnings of $4.28 per share, with EPS estimates ranging from $3.58 to $5.00. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Seagate Technology.

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

Several research firms have recently issued reports on STX. Vetr downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $45.46 price target for the company. in a research note on Tuesday. BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 8th. ValuEngine upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Wells Fargo & Company assumed coverage on Seagate Technology in a research note on Tuesday, November 14th. They set a “market perform” rating and a $38.00 target price for the company. Finally, Zacks Investment Research downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Seagate Technology currently has a consensus rating of “Hold” and an average price target of $41.53.

In other news, Director Edward J. Zander sold 15,089 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $38.79, for a total value of $585,302.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dambisa F. Moyo sold 8,715 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $39.01, for a total value of $339,972.15. Following the completion of 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. Insiders sold a total of 42,481 shares of company stock valued at $1,655,011 over the last three months. Insiders own 0.87% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its holdings in Seagate Technology by 7.5% during the third quarter. Parametric Portfolio Associates LLC now owns 1,504,787 shares of the data storage provider’s stock worth $49,914,000 after acquiring an additional 105,257 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at about $504,000. Yellowstone Partners LLC acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at about $2,166,000. Balentine LLC raised its stake in shares of Seagate Technology by 56.8% in the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after purchasing an additional 1,619 shares during the period. Finally, ValueAct Holdings L.P. raised its stake in shares of Seagate Technology by 55.3% in the 3rd quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after purchasing an additional 7,642,835 shares during the period. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Shares of Seagate Technology (NASDAQ:STX) traded down $0.14 during mid-day trading on Monday, reaching $41.94. The company’s stock had a trading volume of 3,301,558 shares, compared to its average volume of 5,131,834. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. Seagate Technology has a 12 month low of $30.60 and a 12 month high of $50.96. The firm has a market cap of $12,186.10, a price-to-earnings ratio of 10.30, a P/E/G ratio of 0.56 and a beta of 1.67.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 annualized dividend and a dividend yield of 6.01%. Seagate Technology’s dividend payout ratio (DPR) is currently 95.09%.

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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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