Western Digital Falls 10.22% as Major Indexes Rise

Western Digital shares fell 10.22% to $415.29 in the latest session, while major U.S. indexes rose. The S&P 500 gained 0.73%, the Dow added 0.49%, and the Nasdaq climbed 1.19%.

Over the past month, the stock gained 4.75%. That trailed the Computer and Technology sector’s 6.36% rise but exceeded the S&P 500’s 0.55% gain.

Investors are watching for the company’s next earnings report. Zacks consensus estimates put earnings at $4.07 per share and revenue at $4.16 billion, increases of 128.65% and 47.45%, respectively, from the same quarter a year earlier.

For the annual period, Zacks consensus estimates call for earnings of $20.03 per share and revenue of $18.78 billion. Those figures represent increases of 95.99% and 45.39% from the prior year. The consensus estimate for quarterly earnings per share has not changed over the past 30 days.

Western Digital trades at a forward price-to-earnings ratio of 23.09, compared with an industry average of 11.05, according to Zacks. Its PEG ratio, which accounts for expected earnings growth, is 1.92; the Computer-Storage Devices industry average is 1.47.