Earnings from Seagate Technology plc [STX] are scheduled on April 22, 2021, after the market closes. It is expected that the company will report weak earnings for the quarter ending Mar 2021.
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STX Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $1.32 per share on revenue of $2.68B. Taking a look at the future, the company is projected to report revenue of $2.85B at an earnings per share of $1.55 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 4.80% in revenue and 20.20% in earnings per share for the company.
STX Stock Earnings Forecast For The Current Year
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For the full financial year, Seagate Technology plc [NASDAQ:STX] is forecasted to generate revenue of $10.45B. The figure is about $-60.0 million below what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $5.07 in 2021, which is $0.12 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 2.40% this year, 19.10% next year, and 6.74% annually over the next five years. With regard to sales, forecasts suggest a decline of -0.60% in current fiscal year and 4.80% over following year.
STX Stock Price Performance
At a recent check today, Seagate Technology plc [NASDAQ:STX] finished down -0.10% at $83.79. The stock’s day high price was $83.96, and its lowest was $81.60. Its price rose 4.48% in the last five days. Since the beginning of the year, Seagate Technology plc’s shares are up nearly 34.94%. However, the share price is -0.20% below its one year high. The top price reached by the shares of the company was $84.19 on 04/22/21, while the 52-week low came on 01/11/21, when the shares were $58.04. In the past year, shares of the company have risen 68.64%. At 50 days, the moving average achieved is $76.03 while at 200 days, the moving average is $59.36. There were 0.74 million shares traded in the last session, down from 2.65 million in the previous session.
Seagate Technology plc [NASDAQ:STX] Stock Valuation Metrics
With a prevailing 12-month PE ratio of 21.92, Seagate Technology plc [STX] does qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a discount to the industry average of 25.65 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 1.89 PS value ratio is reported for the last one year of reported earnings. This is above the average return 1.55 for the industry, which means STX offers an unattractive investment opportunity than its competitors do.
STX Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 83.99 level, and the violation of this level will cause a further drop to 82.33 level. At the upper end, 87.05 remains a key resistance. As the stock increases, it may find resistance at 85.51. In the 14-day chart, the Relative Strength Index standing at 71.12 suggests a technical overbought stance while the MACD standing at 2.44 indicates price will increase in the next trading period. Stochastic %K at 93.01% suggests selling the stock while Percent R indicator at 4.05% suggests bullish price movement.
How much is the short interest in Seagate Technology plc?
There have been a drop in short interest in the Seagate Technology plc Financial stock, with short interest down by -1.94 million shares to 15.78 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 13.84 million shares. This 12.29% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 8.06% of the overall float in the stock, while the stock’s days to cover moved to 3.94.
How do analysts view Seagate Technology plc?
In regard to the share price forecast for Seagate Technology plc stock, the analysts, as surveyed by FactSet, forecast the price to reach $79.00 in the next twelve months, representing almost an -6.06% growth from its recent price of $83.79. Among Seagate Technology plc stock projections, $100.00 is the highest analyst target for the stock, while $50.00 is the lowest. Despite this, 28 analysts who share their consensus rating for STX in 2021 agree that the stock is an Overweight. The latest rating change took place on 4/21/21, when Loop Capital Ratings launched coverage of the stock at “Buy” and assigned a price target of $100.0.