Western Digital Corporation (NASDAQ:WDC) will issue its quarterly earnings data after the market closes on Thursday, July 27th. Analysts expect the company to announce earnings of $2.79 per share for the quarter.
Western Digital Corporation (NASDAQ:WDC) last released its earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.22. Western Digital Corporation had a positive return on equity of 16.01% and a negative net margin of 1.32%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the firm earned $1.21 EPS. The firm’s revenue was up 64.7% on a year-over-year basis. On average, analysts expect Western Digital Corporation to post $9.05 EPS for the current fiscal year and $12.26 EPS for the next fiscal year.
Western Digital Corporation (NASDAQ:WDC) opened at 93.75 on Wednesday. The company has a 50 day moving average price of $90.39 and a 200 day moving average price of $82.86. Western Digital Corporation has a 52-week low of $43.09 and a 52-week high of $95.56. The firm’s market capitalization is $27.30 billion. Western Digital Corporation also was the recipient of unusually large options trading activity on Monday. Investors bought 6,330 call options on the stock. This represents an increase of 292% compared to the average volume of 1,613 call options.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.00 annualized dividend and a yield of 2.13%. Western Digital Corporation’s dividend payout ratio is currently -202.02%.
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Several equities research analysts recently commented on WDC shares. Stifel Nicolaus reiterated a “buy” rating and set a $105.00 price target on shares of Western Digital Corporation in a research note on Tuesday, April 18th. Mizuho reiterated a “buy” rating and set a $92.00 price target on shares of Western Digital Corporation in a research note on Wednesday, April 12th. Zacks Investment Research upgraded shares of Western Digital Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Friday, April 21st. Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $94.27 price target on the stock. in a research note on Monday, April 24th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $104.00 price target on shares of Western Digital Corporation in a research note on Thursday, April 27th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $103.27.
In related news, EVP Srinivasan Sivaram sold 40,182 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $89.18, for a total transaction of $3,583,430.76. Following the sale, the executive vice president now owns 102,202 shares of the company’s stock, valued at $9,114,374.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark P. Long sold 57,846 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $87.02, for a total transaction of $5,033,758.92. Following the sale, the insider now directly owns 114,522 shares in the company, valued at approximately $9,965,704.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 227,305 shares of company stock worth $20,209,585. Company insiders own 0.46% of the company’s stock.
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).
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