Market Overview

Western Digital Earnings: Crowd Expects Slight Growth; Experts, Small Decline


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.

The company did not provide guidance for the quarter.

Below, a graph illustrates the history of estimates and actual earnings for Western Digital:

In addition, Estimize allows users to check out how projections have changed over time.

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 $131 price target, while BofA Merrill Lynch upgraded the stock to Buy, fixing the target at $117.

Latest Ratings for WDC

Apr 2019ReiteratesBuy
Apr 2019UpgradesHoldBuy
Apr 2019UpgradesNeutralBuy

View More Analyst Ratings for WDC
View the Latest Analyst Ratings

Posted-In: BofA Merrill Lynch Estimize JP MorganAnalyst Color Previews Analyst Ratings Tech Trading Ideas


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