Western Digital (WDC) Rises As Market Takes a Dip: Key Facts

The latest trading session saw Western Digital (WDC) ending at $55.05, denoting a +1.14% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.53%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.83%.Shares of the maker of hard drives for businesses and personal computers have appreciated by 22.87% over the course of the past month, outperforming the Computer and Technology sector's gain of 8.67% and the S&P 500's gain of 5.17%.The investment community will be closely monitoring the performance of Western Digital in its forthcoming earnings report. On that day, Western Digital is projected to report earnings of $1.47 per share, which would represent year-over-year growth of 2.08%. Alongside, our most recent consensus estimate is anticipating revenue of $2.45 billion, indicating a 34.79% downward movement from the same quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.73 per share and a revenue of $9.37 billion, signifying shifts of +2465% and -27.95%, respectively, from the last year.Investors should also take note of any recent adjustments to analyst estimates for Western Digital. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.18% higher within the past month. At present, Western Digital boasts a Zacks Rank of #5 (Strong Sell).Looking at its valuation, Western Digital is holding a Forward P/E ratio of 11.5. This signifies a discount in comparison to the average Forward P/E of 13.45 for its industry.The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 178, this industry ranks in the bottom 28% of all industries, numbering over 250.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Don’t Miss Out on These Stocks Before you make your next investing move, we have a free report that highlights the %%CTA_TEXT%% to buy.Our experts at Zacks Investment Research hand-selected these stocks for their eye-opening growth projections.Since 1988, our stock picks have more than doubled the S&P 500 with an average gain of +23.89% per year using the Zacks Rank stock-rating system.Register now to see the %%CTA_TEXT%%.7 best stocksWant 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 Western Digital Corporation (WDC): 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