News That Matters

Analysts Issue Forecasts for Seagate Technology Holdings plc’s Q4 2024 Earnings (NASDAQ:STX)


Seagate Technology Holdings plc (NASDAQ:STXGet Rating) – Equities researchers at Zacks Research decreased their Q4 2024 earnings per share (EPS) estimates for Seagate Technology in a research note issued to investors on Tuesday, January 3rd. Zacks Research analyst V. Doshi now anticipates that the data storage provider will post earnings of $1.38 per share for the quarter, down from their previous forecast of $1.39. The consensus estimate for Seagate Technology’s current full-year earnings is $1.47 per share.

Seagate Technology (NASDAQ:STXGet Rating) last released its earnings results on Wednesday, October 26th. The data storage provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.15). The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.11 billion. Seagate Technology had a return on equity of 716.97% and a net margin of 10.89%. Seagate Technology’s revenue was down 34.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.27 EPS.

Other analysts have also issued research reports about the company. The Goldman Sachs Group reduced their target price on Seagate Technology from $71.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 28th. Morgan Stanley lowered their price objective on shares of Seagate Technology from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, October 27th. StockNews.com began coverage on shares of Seagate Technology in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. TheStreet lowered Seagate Technology from a “b-” rating to a “c” rating in a report on Wednesday, October 26th. Finally, Credit Suisse Group decreased their price objective on Seagate Technology from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and an average target price of $70.17.

Seagate Technology Trading Up 1.9 %

STX opened at $53.49 on Friday. The company has a debt-to-equity ratio of 46.44, a quick ratio of 0.68 and a current ratio of 1.19. The stock’s 50 day moving average price is $52.76 and its 200-day moving average price is $63.03. Seagate Technology has a one year low of $47.47 and a one year high of $117.03. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 29.55 and a beta of 1.06.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Wednesday, December 21st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $2.80 annualized dividend and a yield of 5.23%. Seagate Technology’s payout ratio is presently 53.85%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Oakworth Capital Inc. acquired a new position in Seagate Technology in the 2nd quarter worth approximately $29,000. Hallmark Capital Management Inc. acquired a new position in Seagate Technology during the second quarter valued at $32,000. Ronald Blue Trust Inc. purchased a new stake in Seagate Technology in the second quarter valued at $33,000. West Branch Capital LLC acquired a new stake in Seagate Technology during the 2nd quarter worth about $35,000. Finally, Janiczek Wealth Management LLC raised its stake in shares of Seagate Technology by 286.4% during the 2nd quarter. Janiczek Wealth Management LLC now owns 541 shares of the data storage provider’s stock valued at $43,000 after buying an additional 401 shares during the last quarter. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

About Seagate Technology

(Get Rating)

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

Further Reading

Earnings History and Estimates for Seagate Technology (NASDAQ:STX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Seagate Technology, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Seagate Technology wasn’t on the list.

While Seagate Technology currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover



Source link