Brokerages Anticipate Seagate Technology Holdings plc (NASDAQ:STX) Will Post Earnings of $1.91 Per Share

Equities research analysts expect Seagate Technology Holdings plc (NASDAQ:STXGet Rating) to report $1.91 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Seagate Technology’s earnings, with the highest EPS estimate coming in at $2.03 and the lowest estimate coming in at $1.80. Seagate Technology reported earnings per share of $1.48 during the same quarter last year, which would indicate a positive year-over-year growth rate of 29.1%. The firm is scheduled to issue its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Seagate Technology will report full-year earnings of $8.80 per share for the current fiscal year, with EPS estimates ranging from $8.42 to $9.05. For the next financial year, analysts forecast that the business will report earnings of $10.14 per share, with EPS estimates ranging from $9.30 to $10.89. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Seagate Technology.

Seagate Technology (NASDAQ:STXGet Rating) last released its quarterly earnings data on Wednesday, January 26th. The data storage provider reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.07. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.12 billion. Seagate Technology had a net margin of 15.35% and a return on equity of 322.33%. Seagate Technology’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 EPS.

STX has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Seagate Technology from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, January 27th. Benchmark increased their target price on shares of Seagate Technology from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, January 27th. Northland Securities lowered their target price on shares of Seagate Technology from $122.00 to $113.00 and set an “outperform” rating for the company in a research note on Tuesday, March 22nd. Stifel Nicolaus increased their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 27th. Finally, Morgan Stanley lowered their target price on shares of Seagate Technology from $101.00 to $99.00 and set an “equal weight” rating for the company in a research note on Thursday, March 31st. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $108.35.

Shares of STX stock traded down $2.69 on Friday, hitting $81.41. 2,806,433 shares of the stock traded hands, compared to its average volume of 1,722,205. Seagate Technology has a 52 week low of $78.20 and a 52 week high of $117.67. The firm has a 50 day simple moving average of $96.18 and a two-hundred day simple moving average of $98.70. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 8.26 and a beta of 1.00. The company has a debt-to-equity ratio of 10.70, a current ratio of 1.49 and a quick ratio of 1.06.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 6th. Shareholders of record on Tuesday, March 22nd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 21st. This represents a $2.80 dividend on an annualized basis and a yield of 3.44%. Seagate Technology’s dividend payout ratio (DPR) is presently 35.13%.

In related 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 transaction of $29,410,798.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jay L. Geldmacher sold 4,300 shares of the firm’s stock in a transaction on Monday, January 31st. The shares were sold at an average price of $107.50, for a total value of $462,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,076,597 shares of company stock worth $224,036,049. Corporate insiders own 0.81% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FSB Premier Wealth Management Inc. acquired a new position in Seagate Technology during the 4th quarter worth about $26,000. Tyler Stone Wealth Management acquired a new position in Seagate Technology during the 4th quarter worth about $28,000. Chilton Capital Management LLC acquired a new position in Seagate Technology during the 4th quarter worth about $33,000. TCTC Holdings LLC acquired a new position in Seagate Technology during the 4th quarter worth about $34,000. Finally, First Quadrant L P CA acquired a new position in Seagate Technology during the 3rd quarter worth about $33,000. 81.67% of the stock is currently owned by institutional investors.

Seagate Technology Company Profile (Get Rating)

Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.

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