Western Digital Corporation (NASDAQ: WDC) was one of the biggest movers in the recent trading session. So what do we make of this stock that is clearly one of the hottest on the market now? The WDC stock is trading at $66.67 from a close of $69.21 on 01/15/20. The day’s price range saw the stock hit a low of $66.04, while the highest price level was $68.58 during the intraday trading.
Is the WDC stock going to continue the plunge or will it steady in coming sessions to climb above its 5-day high price of $70.50. Western Digital Corporation (NASDAQ: WDC) has a 52-week price range of between $35.02 and $70.50. Notably, the reduced performance in the current session comes on the back of condensed market activity for the stock, as its daily trading volume to 5827149, compared to its 3-months daily average volume of 5.09 million. In comparison, the average volume for the last 50 days stands at 5,102,658.
What about the stock’s price forecasts? WDC had 33 analysts who offered their 12-month price predictions for the Western Digital Corporation shares. The group has given the stock a consensus price target of $65.69, with the lowest forecast being put at $37.80. The highest estimate by the 33 analysts is $90.00. The median price target estimate of $64.50 for the stock represents a -3.36% fall in value from the previous price of $66.67. Looking at the 52-week price ranges, the stock’s current price level is 90.38% from its 52-week high price and -5.43% down from its 52-week low in the same period.
Western Digital Corporation shares have plunged -2.87% over the past week, but its 1-month performance is in the green at 22.78%. Its performance in the current quarter is up 9.62%, while that figure shoots to 29.48% over the past half-year period. Further, we see that the stock’s 12-month charts show that it has gained by 76.94%, with the year-to-date prices up by 5.04%.
The company has a market cap of 20.03 billion and a return on assets (ROA) of -5.70%. In gauging how profitable company analysts and investors look at the respective company’s ROA, with returns above 5% generally regarded as good. Also important is the company’s return on equity (ROE), with WDC’s at -15.20% indicating that the management is able to generate impressive income with whatever equity at their disposal. If you put your money on this stock, then a forecast ROI is at -1.30%.
But what do Wall Street analysts tracking this stock recommend, given that it has 300.38 million shares outstanding? 33 analysts polled have a consensus recommendation rating of 3.81, indicating that WDC is a Overweight stock at the moment. This mean rating was at 3.65 a month ago. Cowen called it a Outperform stock on January 07, 2020, while Cascend Securities rated it a Buy in its note released on January 07, 2020. Of the 33 analysts, 1 analysts rate the WDC stock as Overweight, while 12 of them rated it as a Hold. 17 analysts rate Western Digital Corporation as a Buy, while 1 suggested its Underweight. Only 2 analyst advised investors to sell.
Let’s glean at the company’s earnings forecasts for the current quarter and annual growth estimate for the next 5-year period. The analyst forecasts for this stock’s earnings per share (EPS) for the current quarter (Dec 2019) ranged from a low of $0.52 per share to $0.65 per share. The average estimate by the 30 analysts for the WDC shares was $0.57 a share, while the company’s last-quarter results returned an EPS of $1.51. Looking at the current EPS trends, seven days ago, WDC had its Dec 2019 estimates at $0.57 per share while the stock’s EPS was forecasted at the $0.57, a month ago. However, the company’s EPS growth for this quarter stands at -60.70%, while that growth rate for the next fiscal quarter is forecasted at 317.60%. The annual earnings per share growth for the next five years is estimated to be -13.80%, which compares to the -19.27% recorded in the past five-year period.
28 analysts have forecast that Western Digital Corporation will see its revenue growth net between $4.15 billion and $4.29 billion for the current quarter. The next quarter should see revenue returns of between $3.84 billion and $4.32 billion.The average revenue for the quarter is expected at $4.21 billion, while for the next quarter, it jumps to $4.04 billion. Sales growth for the year are estimated at 8.90%.