Western Digital (WDC) Projected to Post Earnings on Thursday

Western Digital (NASDAQ:WDC) is expected to announce its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.91 per share and revenue of $4,302,170.00 billion for the quarter. Western Digital has set its Q2 guidance at $1.75-2.05 EPS and its Q2 2025 guidance at 1.750-2.050 EPS.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business earned ($1.97) earnings per share. The business’s quarterly revenue was up 48.9% compared to the same quarter last year. On average, analysts expect Western Digital to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Western Digital Stock Up 3.0 %

Shares of Western Digital stock opened at $64.63 on Thursday. Western Digital has a twelve month low of $50.88 and a twelve month high of $81.55. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 38.02 and a beta of 1.43. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $65.75 and a 200 day moving average price of $66.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BNP Paribas dropped their price objective on shares of Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. UBS Group cut their price target on Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley lowered their price objective on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Western Digital in a research report on Tuesday, November 26th. Finally, Barclays raised their price target on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.86.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 658 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the sale, the senior vice president now directly owns 28,863 shares in the company, valued at $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $72.58, for a total value of $5,443,500.00. Following the transaction, the chief executive officer now directly owns 821,630 shares of the company’s stock, valued at approximately $59,633,905.40. The trade was a 8.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,107 shares of company stock worth $7,768,381 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

About Western Digital

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.