Seagate (STX) Beats Market Gains: What You Need to Know
Seagate (STX) closed on the last trading day at $ 89.62, up 1.27% from the previous trading session. This move topped the S&P 500 daily gain by 0.12%.
Prior to today’s stock exchange, shares of the electronic storage maker had lost 5.79% in the past month. This was less than the 15.07% loss of the business services sector and was less than the 3% gain of the S&P 500 during this period.
STX will look to show strength as it nears its next earnings release, which is scheduled for July 21, 2021. The company is expected to post EPS of $ 1.81, up 50.83% from the quarter of the previous year. Meanwhile, our latest consensus estimate projects revenue of $ 2.94 billion, up 16.79% from the previous year’s quarter.
Investors might also notice recent changes in analyst estimates for STX. These revisions help show the ever-changing nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with short-term stock price dynamics. Investors can take advantage of this by using the Zacks Ranking. This model takes into account these changes in estimate and provides a simple and workable scoring system.
The Zacks ranking system, which ranges from # 1 (strong buy) to # 5 (strong sell), has an impressive history of externally audited outperformance, with # 1 stocks generating an average annual return of +25. % since 1988. Over the past 30 days, our consensus EPS forecast has remained stagnant. STX currently sports a Zacks rank of # 1 (strong buy).
Valuation is also important, so investors should note that STX currently has a forward P / E ratio of 11.64. Its industry has an average forward P / E of 31.81, so one could conclude that STX is trading at a comparatively discount.
Additionally, it should be mentioned that STX has a PEG ratio of 9.62. This popular metric is similar to the well-known P / E ratio, except that the PEG ratio also takes into account the expected rate of earnings growth of the company. The STX industry had an average PEG ratio of 2.71 at yesterday’s close.
The technology services industry is part of the business services sector. This industry currently has a Zacks Industry Rank of 194, which places it in the lowest 24% of all 250+ industries.
The Zacks Industry Rank includes is ranked from best to worst in terms of the average Zacks Rank of individual companies in each of these industries. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
Make sure to use Zacks. Com to track all of these stock market metrics, and more, over future trading sessions.
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Seagate Technology Holdings PLC (STX): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.