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The upcoming report from Seagate (STX) is expected to reveal quarterly earnings of $1.88 per share, indicating an increase of 1466.7% compared to the year-ago period. Analysts forecast revenues of $2.31 billion, representing an increase of 48.6% year over year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Seagate metrics that are commonly tracked and projected by analysts on Wall Street.
The combined assessment of analysts suggests that 'Capacity Shipped - Mass Capacity' will likely reach 134.15 EB. The estimate is in contrast to the year-ago figure of 83.2 EB.
It is projected by analysts that the 'HDD Price per Terabyte' will reach $14.78. Compared to the current estimate, the company reported $14 in the same quarter of the previous year.
The consensus estimate for 'Capacity Shipped - Total' stands at 143.91 EB. The estimate compares to the year-ago value of 95.1 EB.
The average prediction of analysts places 'Capacity Shipped - Legacy' at 9.76 EB. The estimate compares to the year-ago value of 12 EB.
View all Key Company Metrics for Seagate here>>>
Shares of Seagate have demonstrated returns of -3.5% over the past month compared to the Zacks S&P 500 composite's -3.3% change. With a Zacks Rank #3 (Hold), STX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report