Western Digital (WDC) Projected to Post Quarterly 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.Investors interested in registering for the company’s conference call can do so using this link.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the firm earned ($1.97) EPS. The firm’s revenue for the quarter was up 48.9% on a year-over-year basis. 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 Price Performance

Western Digital stock opened at $67.43 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The business has a 50 day simple moving average of $65.45 and a 200-day simple moving average of $66.07. Western Digital has a 12 month low of $52.77 and a 12 month high of $81.55. The stock has a market capitalization of $23.31 billion, a PE ratio of 39.66 and a beta of 1.43.

Insider Buying and Selling

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the sale, the chief executive officer now directly owns 821,630 shares of the company’s stock, valued at $59,633,905.40. This trade represents a 8.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gene M. Zamiska sold 1,993 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $69.94, for a total transaction of $139,390.42. Following the completion of the transaction, the senior vice president now directly owns 30,608 shares of the company’s stock, valued at approximately $2,140,723.52. This represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,107 shares of company stock worth $7,768,381 in the last ninety days. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on WDC. The Goldman Sachs Group cut their price objective on shares of Western Digital from $81.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Wedbush restated an “outperform” rating and issued a $95.00 price objective on shares of Western Digital in a research report on Friday, November 29th. Mizuho lowered their price objective on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Morgan Stanley cut their target price on Western Digital from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Citigroup dropped their price objective on Western Digital from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.65.

About Western Digital

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.