Brokerages Anticipate Seagate Technology Holdings plc (NASDAQ:STX) to Announce $2.00 Earnings Per Share

Wall Street brokerages forecast that Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) will post $2.00 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Seagate Technology’s earnings. The lowest EPS estimate is $1.85 and the highest is $2.15. Seagate Technology also reported earnings per share of $2.00 in the same quarter last year. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Seagate Technology will report full year earnings of $8.58 per share for the current year, with EPS estimates ranging from $8.42 to $8.75. For the next financial year, analysts anticipate that the business will post earnings of $9.93 per share, with EPS estimates ranging from $9.40 to $10.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Seagate Technology.

Seagate Technology (NASDAQ:STX – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The data storage provider reported $1.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.07. Seagate Technology had a return on equity of 339.73% and a net margin of 15.40%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $1.36 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis.

Several research analysts recently weighed in on STX shares. Robert W. Baird dropped their price target on Seagate Technology from $120.00 to $100.00 in a research report on Wednesday, March 16th. Barclays dropped their target price on Seagate Technology from $100.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, April 25th. Wedbush dropped their target price on Seagate Technology from $95.00 to $85.00 in a research report on Monday, April 25th. Rosenblatt Securities upped their target price on Seagate Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 27th. Finally, Susquehanna upped their target price on Seagate Technology from $65.00 to $67.00 in a research report on Thursday. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $103.04.

In other news, Director Holdings L.P. Valueact sold 272,297 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $108.01, for a total value of $29,410,798.97. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen J. Luczo sold 50,000 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $103.26, for a total value of $5,163,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,072,297 shares of company stock valued at $223,573,799 over the last ninety days. Insiders own 0.81% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gateway Advisory LLC increased its position in shares of Seagate Technology by 2.6% in the fourth quarter. Gateway Advisory LLC now owns 3,588 shares of the data storage provider’s stock valued at $405,000 after acquiring an additional 92 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in Seagate Technology by 2.5% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,845 shares of the data storage provider’s stock worth $434,000 after purchasing an additional 94 shares during the period. Marcum Wealth LLC grew its holdings in Seagate Technology by 3.7% during the third quarter. Marcum Wealth LLC now owns 2,919 shares of the data storage provider’s stock worth $241,000 after purchasing an additional 104 shares during the period. Old North State Trust LLC boosted its holdings in shares of Seagate Technology by 43.0% during the fourth quarter. Old North State Trust LLC now owns 426 shares of the data storage provider’s stock worth $48,000 after acquiring an additional 128 shares during the period. Finally, Carroll Financial Associates Inc. boosted its holdings in shares of Seagate Technology by 41.1% during the fourth quarter. Carroll Financial Associates Inc. now owns 446 shares of the data storage provider’s stock worth $50,000 after acquiring an additional 130 shares during the period. 81.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Seagate Technology stock opened at $82.04 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.48 and a debt-to-equity ratio of 13.33. The firm has a market cap of $17.96 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 8.42 and a beta of 1.00. The business has a fifty day simple moving average of $90.75 and a 200-day simple moving average of $98.87. Seagate Technology has a fifty-two week low of $78.20 and a fifty-two week high of $117.67.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 7th. Investors of record on Friday, June 24th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, June 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.41%. Seagate Technology’s dividend payout ratio is 34.40%.

Seagate Technology Company Profile (Get Rating)

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

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