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Western Digital Corp (NASDAQ: WDC) will report its first quarter financial results on Tuesday afternoon, after the market closes.
According to Estimize, the crowd is more bullish than experts. While Main Street expects some EPS growth year-over-year, Wall Street expects a slight decrease. The former projects EPS of $1.97 on revenue of $3.632 billion (versus $1.94 for the first quarter of 2014), and the latter models consensus EPS of $1.92 on revenue of $3.638 billion.
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The company did not provide guidance for the quarter.
Below, a graph illustrates the history of earnings and actual earnings for Western Digital:
In addition, Estimize allows users to check out how projections have changed over time.
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Both the crowd and the experts have been losing confidence in the company, with estimates falling as earnings loomed.
Analysts Like Western Digital
In a recent report, analysts at JP Morgan initiated coverage of Western Digital with an Overweight rating and a $105 price target. "We like WDC's more diverse portfolio which includes flash. In addition, a potential approval from MOFCOM to lift the hold-separate condition for HGST could unlock an incremental ~$400m in annual opex synergies (~$1.60 of EPS) in addition to material COGS synergies," they explain.
Maxim Group also initiated coverage recently, with a Buy rating, and a a $131 price target, while BofA Merrill Lynch upgraded the stock to Buy, fixing the target at $117.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.