Equities research analysts at Evercore Partners increased their target price on shares of Seagate (NYSE:STX) from $48.00 to $50.00 in a research note issued to investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has an “equal weight” rating on the stock. Evercore Partners’ target price would suggest a potential upside of 3.63% from the company’s current price.
Shares of Seagate (NYSE:STX) traded down 3.21% during mid-day trading on Tuesday, hitting $48.25. The stock had a trading volume of 8,328,905 shares. Seagate has a 52-week low of $24.90 and a 52-week high of $47.82. The stock’s 50-day moving average is $40.0 and its 200-day moving average is $39.9. The company has a market cap of $17.216 billion and a price-to-earnings ratio of 10.36.
Seagate (NYSE:STX) last issued its quarterly earnings data on Monday, October 28th. The company reported $1.16 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.30 by $0.14. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the company posted $1.45 earnings per share. Seagate’s revenue was down 6.5% compared to the same quarter last year. Analysts expect that Seagate will post $5.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.56%.
A number of other firms have also recently commented on STX. Analysts at BMO Capital Markets cut their price target on shares of Seagate from $55.00 to $52.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Seagate from $53.00 to $57.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Seagate from $45.00 to $50.00 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $51.94.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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