Seagate (STX) Q4 Earnings Preview: What You Should Know Beyond the Headline Estimates

Analysts on Wall Street project that Seagate (STX) will announce quarterly earnings of $2.46 per share in its forthcoming report, representing an increase of 134.3% year over year. Revenues are projected to reach $2.41 billion, increasing 27.5% from the same quarter last year.The consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.With that in mind, let's delve into the average projections of some Seagate metrics that are commonly tracked and projected by analysts on Wall Street.According to the collective judgment of analysts, 'Revenue by Product Line- HDD- Legacy' should come in at $245.91 million. The estimate suggests a change of -15.2% year over year.Based on the collective assessment of analysts, 'Revenue by Product Line- HDD- Mass Capacity' should arrive at $2.01 billion. The estimate indicates a change of +39.6% from the prior-year quarter.The consensus estimate for 'Capacity Shipped - Mass Capacity' stands at N/A. The estimate is in contrast to the year-ago figure of N/A.Analysts predict that the 'Capacity Shipped - Total' will reach N/A. Compared to the present estimate, the company reported N/A in the same quarter last year.The collective assessment of analysts points to an estimated 'Capacity Shipped - Legacy' of N/A. Compared to the present estimate, the company reported N/A in the same quarter last year. View all Key Company Metrics for Seagate here>>> Over the past month, shares of Seagate have returned +6.7% versus the Zacks S&P 500 composite's +4.9% change. Currently, STX carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Seagate Technology Holdings PLC (STX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks