Western Digital (WDC) to Release Earnings on Thursday

Western Digital (NASDAQ:WDC) is set to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.21 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Monday, January 29th. The data storage provider reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.61. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3 billion. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.45%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.69) EPS. On average, analysts expect Western Digital to post $-2 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Western Digital Stock Up 1.5 %

Shares of NASDAQ WDC opened at $67.05 on Tuesday. Western Digital has a 52-week low of $31.97 and a 52-week high of $76.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67. The company’s 50 day moving average price is $63.90 and its 200-day moving average price is $54.40. The company has a market capitalization of $21.85 billion, a P/E ratio of -9.40 and a beta of 1.57.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the transaction, the senior vice president now owns 30,958 shares in the company, valued at approximately $2,321,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares of the company’s stock, valued at $2,321,850. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.95, for a total value of $185,227.60. Following the transaction, the director now directly owns 20,509 shares in the company, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen upped their price target on shares of Western Digital from $50.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. The Goldman Sachs Group upped their target price on Western Digital from $58.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley raised their target price on Western Digital from $73.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Mizuho boosted their price target on Western Digital from $66.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, Barclays increased their price target on Western Digital from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.72.

About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.