Yahoo Finance Western Digital (WDC) Rises Higher Than Market: Key Facts
Western Digital (WDC) ended the recent trading session at $80.23, demonstrating a +0.46% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.25%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.03%.
Prior to today's trading, shares of the maker of hard drives for businesses and personal computers had gained 9.32% over the past month. This has outpaced the Computer and Technology sector's gain of 8.7% and the S&P 500's gain of 3.34% in that time.
The investment community will be closely monitoring the performance of Western Digital in its forthcoming earnings report. On that day, Western Digital is projected to report earnings of $1.16 per share, which would represent year-over-year growth of 158.59%. Alongside, our most recent consensus estimate is anticipating revenue of $3.72 billion, indicating a 39.37% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.62 per share and revenue of $12.81 billion. These totals would mark changes of +82.73% and +3.96%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Western Digital. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Western Digital boasts a Zacks Rank of #3 (Hold).
The Computer- Storage Devices industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Western Digital Corporation (WDC) : Free Stock Analysis Report
