Western Digital (WDC) Scheduled to Post Quarterly Earnings on Thursday

Western Digital (NASDAQ:WDC) will be announcing its 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. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Monday, January 29th. The data storage provider reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.61. The firm had revenue of $3.03 billion for 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%. Western Digital’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm 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 4.3 %

Shares of WDC opened at $69.92 on Wednesday. The firm has a market cap of $22.78 billion, a P/E ratio of -9.81 and a beta of 1.56. Western Digital has a 12-month low of $31.97 and a 12-month high of $76.92. The company’s 50-day moving average price is $64.19 and its 200 day moving average price is $54.57. The company has a current ratio of 1.67, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73.

Insider Activity at Western Digital

In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares in the company, valued at $1,434,604.55. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Western Digital news, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares in the company, valued at $1,434,604.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Gene M. Zamiska sold 443 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were 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 owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Morgan Stanley boosted their price target on shares of Western Digital from $73.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen boosted their price target on shares of Western Digital from $50.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. StockNews.com lowered shares of Western Digital from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Susquehanna boosted their price objective on Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Finally, Bank of America boosted their price objective on Western Digital from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.72.

Western Digital Company Profile

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.