Western Digital Corporation (NASDAQ:WDC) is projected to declare fiscal second quarter financial results right after the stock market’s official close on January 25, 2017. The stock added about 28.1 percent in price since last results when it was at $56.11 a share. Based on the most relevant past-periods data, there is an 55.56 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 15 times out of last 27 reported quarters. It has beaten earnings-per-share estimates 75% of the time in its last 12 earnings reports. It fell short of earnings estimates on 3 occasions, and it has met expectations 0 time.
Here’s how traders responded to WDC earnings announcements over the past few quarters.
Western Digital Corporation (WDC) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 5.87 percent over the past four quarters. Back on October 26, 2016, it posted earnings per-share earnings at $1.18 which beat the consensus $1.05 projection (positive surprise of12.38%. For the quarter, revenue came in at 4.71B versus consensus estimate of 4.52B. The stock gained 5.42 percent the session following the earnings reports were released, and on 7th day price change was -2.33 percent.
On July 28, 2016, it reported earnings at $0.79 a share compared with the consensus estimate of $0.72 per share (positive surprise of 9.72%). Revenue of 3.5B for that quarter was above the $3.45B analysts had expected. The stock retreated -11.52% the day following the earnings announcement, and on 7th day price change was -17.5%.
On April 28, 2016, it recorded $1.21 a share in earnings which missed the consensus estimate of $1.25 (negative surprise of -3.2%). Revenue for the quarter was $2.82B while analysts called for revenues to be $2.86B. The stock dropped -11.28% the day following the earnings data was made public, and on 7th day price change was -17.21%.
On January 28, 2016, it announced earnings per share at $1.6 versus the consensus estimate of $1.53 per share (positive surprise of 4.58%). That came on revenues of $3.32B for that period. Analysts had expected $3.35B in revenue.
Western Digital Corporation Earnings Estimates
As Q2 earnings announcement date approaches, Wall Street is expecting earnings per share of $2.08. The analysts’ present consensus range is $1.67-$2.36 for EPS. The market consensus range for revenue is between $4.42B and $5.01B, with an average of $4.75B.
Western Digital Corporation (NASDAQ:WDC) last ended at $70.84, sending the company’s market cap near $20.22B. The consensus 12-month price target from analysts covering the stock is $79.02. The share price has declined -2.02% from its top level in 52 weeks and dropped 4.25% this year. It recently traded at a volume of 3648826 shares. The recent trading ended with the price nearly 2.03 higher for the last 5 trading days, rebounding 108.02% from its 52-week low.