Western Digital (WDC) to Release Earnings on Thursday

Western Digital (NASDAQ:WDC) is scheduled to release its earnings data after the market closes on Thursday, October 24th. Analysts expect Western Digital to post earnings of $1.52 per share for the quarter. Western Digital has set its Q1 guidance at $1.55-1.85 EPS and its Q1 2025 guidance at 1.550-1.850 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. On average, analysts expect Western Digital to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Western Digital Trading Up 0.7 %

Shares of Western Digital stock opened at $67.76 on Wednesday. The stock has a market capitalization of $22.13 billion, a P/E ratio of -13.63 and a beta of 1.39. Western Digital has a 52-week low of $35.62 and a 52-week high of $81.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The stock’s 50-day simple moving average is $65.03 and its 200 day simple moving average is $69.81.

Insiders Place Their Bets

In related news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the transaction, the chief executive officer now directly owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value of $5,274,000.00. Following the completion of the sale, the chief executive officer now owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,955 shares of company stock valued at $6,327,560 over the last 90 days. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

WDC has been the topic of a number of recent research reports. TD Cowen dropped their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Evercore ISI reiterated an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a research report on Thursday, August 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price objective on shares of Western Digital in a report on Tuesday, September 10th. Finally, Benchmark restated a “buy” rating and issued a $92.00 target price on shares of Western Digital in a research note on Thursday, September 26th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.24.

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.