Western Digital Rises 1.78% as Earnings Forecasts Point Higher
The stock outpaced major indexes, while Zacks projections call for sharp year-over-year growth in quarterly earnings and revenue.
Western Digital shares ended the latest session at $462.56, up 1.78% from the previous close. The gain exceeded advances in the S&P 500, Dow and Nasdaq, which rose 0.2%, 0.04% and 0.04%, respectively.
Zacks estimates the company will report quarterly earnings of $4.07 per share, up 128.65% year over year, and revenue of $4.16 billion, a 47.45% increase. The article did not specify an earnings release date.
For the full year, Zacks Consensus Estimates call for earnings of $20.03 per share and revenue of $18.78 billion. Those figures would be 95.99% and 45.39% above the prior year, respectively. The consensus earnings estimate has been unchanged over the past 30 days.
Western Digital’s forward price-to-earnings ratio was 22.69, compared with an industry average of 10.65, according to Zacks. The company’s PEG ratio was 1.89, versus an industry average of 1.41.
This article was produced with the help of AI technology.
Source: Yahoo Finance
