Seagate (STX) stock movements -0.94%: what you need to know
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Seagate (STX) closed at $ 82.95 last trading session, marking a movement of -0.94% from the previous day. This change was smaller than the S&P 500’s 1.7% daily loss.
Prior to today’s stock exchange, shares of the electronic storage maker had lost 6.37% in the past month. This lagged behind the business services sector’s 0.77% gain and the S&P 500’s 0.27% loss during this period.
STX will seek to show its strength as the next publication of its results approaches. In this report, analysts expect STX to post earnings of $ 2.21 per share. That would mark year-over-year growth of 137.63%. Meanwhile, our latest consensus estimate projects revenue of $ 3.1 billion, up 34.11% from the previous year’s quarter.
Zacks’ full-year consensus estimates for STX project earnings of $ 8.26 per share and revenue of $ 11.82 billion. These results would represent year-over-year variations of + 46.45% and + 10.69%, respectively.
Investors should also note any recent changes in analyst estimates for STX. These revisions help show the ever-changing nature of short-term business trends. Thus, the positive estimate revisions reflect the optimism of analysts about the business and profitability of the company.
Our research shows that these changes in estimate are directly correlated with short-term stock prices. We have developed the Zacks Rank to capitalize on this phenomenon. Our system takes these rating changes into account and provides a clear and actionable scoring model.
Ranging from # 1 (strong buy) to # 5 (strong sell), the Zacks ranking system has a proven and externally audited track record of outperformance, with # 1 stocks returning an average of + 25% per year since. 1988. The Zacks Consensus The EPS estimate has remained stagnant over the past month. STX currently holds a Zacks rank of # 3 (Hold).
Investors should also note STX’s current valuation metrics, including its forward P / E ratio of 10.14. Its industry has an average forward P / E of 29.76, so one could conclude that STX is trading at a comparatively discount.
We can also see that STX currently has a PEG ratio of 8.38. The PEG ratio is similar to the widely used P / E ratio, but this metric also takes into account the expected profit growth rate of the company. Tech services stocks have, on average, a PEG ratio of 2.26 based on yesterday’s closing prices.
The technology services industry is part of the business services sector. This industry currently has a Zacks Industry Rank of 226, which places it in the lowest 12% of all 250+ industries.
The Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock market metrics and more on Zacks.com.
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Seagate Technology Holdings PLC (STX): Free Stock Analysis Report
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