Equities research analysts predict that Seagate Technology (NASDAQ:STX) will announce $1.31 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Seagate Technology’s earnings, with the lowest EPS estimate coming in at $1.20 and the highest estimate coming in at $1.40. Seagate Technology reported earnings per share of $1.10 in the same quarter last year, which would indicate a positive year over year growth rate of 19.1%. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, May 1st.
On average, analysts expect that Seagate Technology will report full year earnings of $4.89 per share for the current year, with EPS estimates ranging from $4.50 to $5.11. For the next financial year, analysts forecast that the firm will report earnings of $5.01 per share, with EPS estimates ranging from $4.06 to $6.00. Zacks’ EPS averages are a mean average based on a survey of research firms that follow Seagate Technology.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.09. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share.
Shares of NASDAQ STX traded up $0.54 during mid-day trading on Monday, reaching $61.15. The company had a trading volume of 2,073,624 shares, compared to its average volume of 4,848,288. The company has a current ratio of 1.58, a quick ratio of 1.25 and a debt-to-equity ratio of 4.07. The stock has a market cap of $17,263.39, a PE ratio of 14.84, a PEG ratio of 0.79 and a beta of 1.68. Seagate Technology has a 52 week low of $30.60 and a 52 week high of $61.40.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Tuesday, March 20th. Seagate Technology’s payout ratio is 61.17%.
In related news, EVP James J. Murphy sold 14,175 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $55.16, for a total value of $781,893.00. Following the completion of the transaction, the executive vice president now directly owns 24,585 shares of the company’s stock, valued at approximately $1,356,108.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen J. Luczo sold 341,738 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $55.00, for a total transaction of $18,795,590.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 662,785 shares of company stock valued at $36,396,992. Insiders own 0.87% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Avestar Capital LLC purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $100,000. Balentine LLC raised its position in shares of Seagate Technology by 56.8% in the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after purchasing an additional 1,619 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $174,000. Brave Asset Management Inc. purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $203,000. Finally, New England Research & Management Inc. purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $205,000. 89.04% of the stock is owned by hedge funds and other institutional investors.
Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.
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