Somewhat Positive Press Coverage Somewhat Unlikely to Affect Western Digital (WDC) Stock Price
Headlines about Western Digital (NASDAQ:WDC) have been trending somewhat positive this week, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Western Digital earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave news coverage about the data storage provider an impact score of 45.1017059774484 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the media stories that may have effected Accern’s analysis:
- Western Digital Sets January 25 for Q2 Fiscal 2018 Financial Results Conference Call/Webcast – Business Wire (press release) (businesswire.com)
- Western Digital (WDC) Launches the Smallest USB Flash Drives – Nasdaq (nasdaq.com)
- Digitized data in India to explode in 2018: Vivek Tyagi, Western Digital (computerworld.in)
- Western Digital Showcases Voice-Activated Media Streaming via Smart Home Devices at CES 2018 (legitreviews.com)
Shares of Western Digital (NASDAQ:WDC) traded up $0.87 during midday trading on Friday, hitting $83.12. The stock had a trading volume of 2,990,708 shares, compared to its average volume of 4,130,000. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.64 and a quick ratio of 2.13. Western Digital has a one year low of $70.59 and a one year high of $95.77. The company has a market cap of $24,540.00, a P/E ratio of 17.35, a P/E/G ratio of 0.27 and a beta of 1.12.
Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.55. Western Digital had a return on equity of 26.48% and a net margin of 7.38%. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the company posted $1.18 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities analysts predict that Western Digital will post 12.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.50 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.00 annualized dividend and a yield of 2.41%. Western Digital’s dividend payout ratio (DPR) is presently 41.75%.
Western Digital announced that its board has initiated a stock buyback plan on Thursday, November 9th that permits the company to repurchase $2.10 billion in shares. This repurchase authorization permits the data storage provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “buy” rating on shares of Western Digital in a research report on Friday, December 22nd. BidaskClub lowered Western Digital from a “hold” rating to a “sell” rating in a research report on Thursday. Evercore ISI reaffirmed a “buy” rating and set a $130.00 price target on shares of Western Digital in a research report on Wednesday, December 13th. UBS Group reaffirmed an “add” rating on shares of Western Digital in a research report on Wednesday, September 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of Western Digital in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Western Digital presently has a consensus rating of “Buy” and an average target price of $112.10.
In related news, insider Michael D. Cordano sold 1,397 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $88.13, for a total value of $123,117.61. Following the completion of the sale, the insider now directly owns 70,556 shares in the company, valued at approximately $6,218,100.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry T. Denero sold 4,097 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $85.97, for a total value of $352,219.09. Following the completion of the sale, the director now owns 10,834 shares of the company’s stock, valued at $931,398.98. The disclosure for this sale can be found here. Insiders sold a total of 16,039 shares of company stock valued at $1,400,999 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.
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About Western Digital
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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