Equities analysts expect Western Digital Corp (NASDAQ:WDC) to post $4.21 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Western Digital’s earnings, with the highest sales estimate coming in at $4.26 billion and the lowest estimate coming in at $4.16 billion. Western Digital posted sales of $4.23 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 0.5%. The business is expected to report its next quarterly earnings results on Thursday, January 23rd.

According to Zacks, analysts expect that Western Digital will report full-year sales of $16.62 billion for the current year, with estimates ranging from $16.19 billion to $17.30 billion. For the next fiscal year, analysts forecast that the company will report sales of $18.55 billion, with estimates ranging from $17.67 billion to $19.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Western Digital.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, October 30th. The data storage provider reported $0.34 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.41. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.92 billion. Western Digital had a negative net margin of 9.89% and a positive return on equity of 3.28%. The company’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 EPS.

Several analysts have recently commented on the stock. Mizuho raised their price objective on shares of Western Digital from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus initiated coverage on shares of Western Digital in a research report on Monday, December 2nd. They issued a “hold” rating and a $53.00 price target for the company. Loop Capital raised shares of Western Digital from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $75.00 in a research report on Monday, October 14th. Longbow Research reissued a “buy” rating on shares of Western Digital in a research report on Tuesday, October 15th. Finally, Benchmark reissued a “sell” rating and issued a $46.00 price target on shares of Western Digital in a research report on Friday, September 27th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. Western Digital has an average rating of “Hold” and a consensus price target of $62.40.

Shares of WDC stock traded up $0.57 during trading hours on Monday, hitting $54.30. 6,713,807 shares of the company were exchanged, compared to its average volume of 4,600,491. The firm has a market cap of $15.19 billion, a P/E ratio of 14.25, a P/E/G ratio of 15.57 and a beta of 1.79. Western Digital has a fifty-two week low of $33.83 and a fifty-two week high of $65.31. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.22 and a current ratio of 1.98. The company has a 50 day simple moving average of $52.08 and a two-hundred day simple moving average of $52.44.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.68%. The ex-dividend date is Thursday, January 2nd. Western Digital’s dividend payout ratio (DPR) is presently 52.49%.

In other news, COO Michael D. Cordano sold 5,625 shares of Western Digital stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.01, for a total transaction of $309,431.25. Following the sale, the chief operating officer now directly owns 281,344 shares in the company, valued at approximately $15,476,733.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael D. Cordano sold 4,640 shares of Western Digital stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $55.35, for a total value of $256,824.00. Following the sale, the chief operating officer now owns 281,344 shares in the company, valued at $15,572,390.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,375 shares of company stock worth $728,504. Company insiders own 0.44% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Quest Capital Management Inc. ADV bought a new stake in Western Digital in the 3rd quarter valued at about $27,000. TCI Wealth Advisors Inc. grew its holdings in Western Digital by 62.1% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 488 shares of the data storage provider’s stock valued at $29,000 after buying an additional 187 shares in the last quarter. Knuff & Co LLC purchased a new position in Western Digital during the 3rd quarter valued at about $30,000. Steward Partners Investment Advisory LLC purchased a new position in Western Digital during the 2nd quarter valued at about $34,000. Finally, Coastal Investment Advisors Inc. grew its holdings in Western Digital by 294.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 792 shares of the data storage provider’s stock valued at $38,000 after buying an additional 591 shares in the last quarter. Institutional investors and hedge funds own 84.52% of the company’s stock.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

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