Western Digital (WDC) Projected to Post Earnings on Thursday

Western Digital (NASDAQ:WDC) is projected to release its earnings data before the market opens on Thursday, January 23rd. Analysts expect Western Digital to post 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.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating 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 business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the company posted ($1.97) EPS. Western Digital’s revenue for the quarter was up 48.9% on a year-over-year basis. On average, analysts expect Western Digital to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Western Digital Price Performance

WDC stock opened at $64.63 on Thursday. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Western Digital has a one year low of $50.88 and a one year high of $81.55. The firm has a market capitalization of $22.34 billion, a PE ratio of 38.02 and a beta of 1.43. The firm has a 50-day moving average of $65.75 and a two-hundred day moving average of $66.50.

Insider Buying and Selling

In related news, EVP Robert Soderbery sold 30,767 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the sale, the executive vice president now owns 135,398 shares of the company’s stock, valued at $9,208,417.98. The trade was a 18.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Gene M. Zamiska sold 658 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,107 shares of company stock valued at $7,768,381 over the last three months. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WDC shares. Barclays raised their price objective on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 price target on shares of Western Digital in a report on Friday, October 25th. Morgan Stanley reduced their price objective 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. Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research note on Friday, November 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 target price on shares of Western Digital in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.86.

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.