Western Digital Corporation (WDC) closed at $80.34 on the latest trading day, marking a 2.07% decline compared to the previous session, while the S&P 500 dropped by 0.64%. The company’s shares have increased by 4.26% over the past month, outperforming the Computer and Technology sector’s 2.91% gain.
Investors are keenly awaiting Western Digital’s upcoming earnings report, where analysts project earnings of $1.57 per share, reflecting an 11.8% year-over-year decline, alongside an expected revenue of $2.7 billion, down 34.03% from the same quarter last year. For the fiscal year, the consensus estimates forecast earnings of $6.5 per share and revenue of $10.92 billion, indicating changes of +31.85% and -17.76%, respectively.
Currently, Western Digital possesses a Zacks Rank of #1 (Strong Buy) and is valued at a Forward P/E ratio of 12.62, which is lower than its industry’s Forward P/E of 15.14. Additionally, the company holds a PEG ratio of 0.91 compared to the industry average of 2.32, indicating strong growth potential in relation to its earnings growth rate.
