Technology

Analyst Outlook on Price Target: Western Digital Corp (NASDAQ:WDC)

Western Digital Corp (NASDAQ:WDC) shares traded 3.92% during the most recent session the stock exchanged hands 17.42M shares versus average trading capacity of 4.95M shares, yielding a market cap of $26.66B. Wall Street analysts covering the stock are projecting that the stock will reach $96.26 within the next 52-weeks. The mean target projections are based on 27 opinions, the mean target was last revised on 04/28/17.

Taking a broader look brokerage firms’ analysts on the street with an expectant view have Western Digital Corp (NASDAQ:WDC) high price target of $122.00 and with a conservative view have low price target of $61.80 with a standard deviation of $24.81. If seeing target price from optimistic overview then it has a 59 percent upside potential from the latest closing price of $89.07.

Western Digital Corp (NASDAQ:WDC) received “Upgrade” rating by Morgan Stanley in a research note issued to investors on Apr-28-17 from Equal-Weight to Overweight.

Additionally on Apr-28-17 Western Digital Corp (NASDAQ:WDC) was “Upgraded” by BofA/Merrill from Neutral to Buy and on Apr-28-17 the stock was “Reiterated” by The Benchmark Company as Buy from $100 to $135. Furthermore on Apr-28-17 the stock was “Reiterated” by Needham as Strong Buy from $100 to $138.

On the other hand the company has Relative Strength Index (RSI 14) of 65.89 along with Average True Range (ATR 14) of 2.63, Consequently Western Digital Corp (NASDAQ:WDC) weekly and monthly volatility is 3.16%, 2.67% respectively. The company’s beta value is at 1.38.

In terms of Buy, Sell or Hold recommendations, Western Digital Corp (NASDAQ:WDC) has an analysts’ mean recommendation of 1.90. This is according to a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell.

Analysts who have weighed in on projected earnings growth are expecting that Western Digital Corp (NASDAQ:WDC) will report earnings of $2.14 for the current quarter, however the company’s high EPS estimates are $2.65 and low estimates are $1.96. However the company reported $0.79 earnings per share for the same quarter during last year.

Previously Western Digital Corp (NASDAQ:WDC) reported $2.07 earnings per share (EPS) for the quarter on 4/27/2017 After Market Close, beating the consensus estimate of $1.85 by $0.22. The company posted an earnings surprise of 11.89%.

While considering growth estimates of the company, it has next quarter growth estimates of 56.50% whereas during current quarter it has 170.90% estimations over growth, comparing to the estimations of 59.70% during current year and 14.10% for next year. Past 5 years growth of Western Digital Corp (NASDAQ:WDC) observed at -11.36%, looking forward for the next 5 years it has a strong prediction of 2.00% over growth.

Western Digital Corp (NASDAQ:WDC) revenue estimates for the current quarter are $4.6B according to 24 number of analysts, for the current quarter the company has high revenue estimates of $4.92B in contradiction of low revenue estimates of $4.43B. For the current year the company’s revenue estimates are $18.75B compared to low analyst estimates of $18.54B and high estimates of $19.12B according 28 number of analysts.

Currently Western Digital Corp (NASDAQ:WDC) shares owned by insiders are 0.20%, whereas shares owned by institutional owners are 87.50%. However the six-month change in the insider ownership was recorded -34.66%, as well as three-month change in the institutional ownership was recorded -0.31%.

Western Digital Corp (NASDAQ:WDC) trading 1.22% far from its 52 week high of $88.00 and +163.18% far from the stock’s low point over the past 52 weeks, which was $33.84. The stock hit its 52-week high on 04/28/17, and 52-week low on 05/16/16. The company’s trailing twelve month income is -423.00M dollars and is paying 2.25% dividend yield annually.

Western Digital Corp (NASDAQ:WDC) trailing twelve month revenues are $15.92B, whereas its price to sales ratio for the same period is 1.62. Its book value per share for the most recent quarter is $38.17 while its price to book ratio for the same period is 2.33, as for as the company’s cash per share for the most recent quarter is $19.64, however its price to cash per share ratio for the same period is 4.53. The stock has a current PEG ratio of 5.27 where as its trailing twelve month P/E ratio is -100.30.

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