Western Digital (WDC) Projected to Post Earnings on Thursday

Western Digital (NASDAQ:WDC) is anticipated 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.Persons interested in listening to the company’s earnings conference call can do so using this link.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the company earned ($1.97) earnings per share. Western Digital’s revenue for the quarter was up 48.9% compared to the same quarter last year. On average, analysts expect Western Digital to post $6 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Western Digital Trading Up 3.7 %

Shares of NASDAQ:WDC opened at $67.43 on Wednesday. The company has a market capitalization of $23.31 billion, a PE ratio of 39.66 and a beta of 1.43. Western Digital has a 12-month low of $52.77 and a 12-month high of $81.55. The business has a 50 day moving average of $65.45 and a two-hundred day moving average of $66.07. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49.

Analyst Ratings Changes

A number of research firms recently issued reports on WDC. Bank of America dropped their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of Western Digital from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Rosenblatt Securities restated a “buy” rating and set a $115.00 price target on shares of Western Digital in a research report on Friday, October 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price objective on shares of Western Digital in a report on Friday, January 17th. Finally, Barclays reduced their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.65.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the sale, the senior vice president now directly owns 28,863 shares in the company, valued at approximately $2,020,121.37. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Soderbery sold 30,767 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the transaction, the executive vice president now directly owns 135,398 shares of the company’s stock, valued at approximately $9,208,417.98. This represents a 18.52 % 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 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

Western Digital Company Profile

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.