Western Digital Corp. (WDC) Updates Q1 Earnings Guidance

western-digital-corp-wdc-updates-q1-earnings-guidance.gif

Western Digital Corp. (NASDAQ:WDC) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.00-1.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.90. The company issued revenue guidance of $4.45-4.55 billion, compared to the consensus revenue estimate of $4.46 billion.
Shares of Western Digital Corp. (NASDAQ:WDC) opened at 47.55 on Wednesday. The company has a market cap of $13.52 billion and a P/E ratio of 47.55. Western Digital Corp. has a one year low of $34.99 and a one year high of $86.39. The company has a 50 day moving average price of $47.34 and a 200 day moving average price of $45.70.
Western Digital Corp. (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, July 28th. The data storage provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. During the same period in the prior year, the firm earned $1.51 EPS. The company earned $3.50 billion during the quarter, compared to analyst estimates of $3.44 billion. Western Digital Corp.’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts expect that Western Digital Corp. will post $4.28 earnings per share for the current year.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/07/western-digital-corp-wdc-updates-q1-earnings-guidance.html

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.21%.
WDC has been the subject of a number of analyst reports. Jefferies Group reaffirmed a buy rating and issued a $50.00 price target (down previously from $56.00) on shares of Western Digital Corp. in a research report on Tuesday, May 24th. BTIG Research reaffirmed a buy rating and issued a $55.00 price target on shares of Western Digital Corp. in a research report on Thursday, May 19th. Brean Capital reissued a buy rating on shares of Western Digital Corp. in a research report on Thursday, May 26th. Benchmark Co. cut their price objective on Western Digital Corp. from $94.00 to $84.00 and set a buy rating for the company in a research report on Friday, May 27th. Finally, Maxim Group reissued a buy rating and set a $71.00 price objective (down previously from $75.00) on shares of Western Digital Corp. in a research report on Friday, May 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $65.36.
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Company’s product portfolio includes hard disk drives (HDDs), solid-state drives, direct attached storage solutions, personal cloud network attached storage solutions, and public and private cloud data center storage solutions.

Receive News & Ratings for Western Digital Corp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Western Digital Corp. and related companies with MarketBeat.com’s FREE daily email newsletter.

Be the first to comment on "Western Digital Corp. (WDC) Updates Q1 Earnings Guidance"

Leave a comment

Your email address will not be published.

*