Western Digital (WDC) Gains But Lags Market: What You Should Know

Asia's Tech News Daily

Western Digital (WDC) closed at $55.65 in the latest trading session, marking a +0.45% move from the prior day. The stock lagged the S&P 500’s daily gain of 0.74%.

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Heading into today, shares of the maker of hard drives for businesses and personal computers had lost 2.15% over the past month, lagging the Computer and Technology sector’s loss of 0.81% and the S&P 500’s gain of 1.34% in that time.

WDC will be looking to display strength as it nears its next earnings release, which is expected to be October 28, 2021. The company is expected to report EPS of $2.47, up 280% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.04 billion, up 28.61% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $10.71 per share and revenue of $20.78 billion, which would represent changes of +135.38% and +22.78%, respectively, from the prior year.

Any recent changes to analyst estimates for WDC should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. WDC currently has a Zacks Rank of #4 (Sell).

Investors should also note WDC’s current valuation metrics, including its Forward P/E ratio of 5.17. This valuation marks a discount compared to its industry’s average Forward P/E of 29.5.

The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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