Wall Street analysts predict that Seagate Technology PLC (NASDAQ:STX) will post $2.32 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Seagate Technology’s earnings. The highest sales estimate is $2.32 billion and the lowest is $2.31 billion. Seagate Technology reported sales of $2.84 billion in the same quarter last year, which would indicate a negative year over year growth rate of 18.3%. The company is scheduled to report its next quarterly earnings results on Monday, July 29th.

On average, analysts expect that Seagate Technology will report full year sales of $10.32 billion for the current financial year, with estimates ranging from $10.23 billion to $10.34 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $10.01 billion, with estimates ranging from $8.84 billion to $10.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Seagate Technology.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 30th. The data storage provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.12. Seagate Technology had a net margin of 13.73% and a return on equity of 90.33%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the company posted $1.46 EPS. The company’s revenue was down 17.5% compared to the same quarter last year.

A number of analysts recently weighed in on STX shares. Evercore ISI cut their price target on shares of Seagate Technology from $40.00 to $33.00 and set an “underperform” rating on the stock in a research report on Monday, January 14th. ValuEngine downgraded shares of Seagate Technology from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 17th. BidaskClub downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Zacks Investment Research downgraded shares of Seagate Technology from a “hold” rating to a “strong sell” rating in a research report on Friday, January 18th. Finally, Mizuho reiterated a “neutral” rating on shares of Seagate Technology in a research report on Tuesday, February 5th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.75.

Seagate Technology stock opened at $44.04 on Tuesday. The stock has a market cap of $12.19 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 8.22 and a beta of 1.63. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.16 and a current ratio of 1.62. Seagate Technology has a 1 year low of $35.38 and a 1 year high of $60.01.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 19th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $2.52 annualized dividend and a yield of 5.72%. Seagate Technology’s dividend payout ratio (DPR) is currently 45.74%.

In other Seagate Technology news, EVP James J. Murphy sold 20,832 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $45.75, for a total transaction of $953,064.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen J. Luczo sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $45.67, for a total transaction of $2,283,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 220,831 shares of company stock worth $10,474,015 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in STX. First Interstate Bank acquired a new stake in Seagate Technology during the 1st quarter worth approximately $31,000. Waratah Capital Advisors Ltd. bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $60,000. Essex Savings Bank bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $70,000. Financial Gravity Companies Inc. bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $75,000. Finally, Certified Advisory Corp grew its stake in shares of Seagate Technology by 17.5% during the 4th quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock worth $78,000 after acquiring an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 95.77% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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Earnings History and Estimates for Seagate Technology (NASDAQ:STX)

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