Advertisement
U.S. markets open in 3 hours 5 minutes
  • S&P Futures

    5,205.75
    -9.00 (-0.17%)
     
  • Dow Futures

    39,188.00
    -35.00 (-0.09%)
     
  • Nasdaq Futures

    18,188.50
    -43.00 (-0.24%)
     
  • Russell 2000 Futures

    2,045.40
    -4.40 (-0.21%)
     
  • Crude Oil

    82.51
    -0.21 (-0.25%)
     
  • Gold

    2,158.60
    -5.70 (-0.26%)
     
  • Silver

    25.14
    -0.12 (-0.49%)
     
  • EUR/USD

    1.0847
    -0.0029 (-0.27%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Vix

    14.60
    +0.27 (+1.88%)
     
  • GBP/USD

    1.2678
    -0.0050 (-0.39%)
     
  • USD/JPY

    150.5450
    +1.4470 (+0.97%)
     
  • Bitcoin USD

    63,045.51
    -4,726.87 (-6.97%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,721.45
    -1.10 (-0.01%)
     
  • Nikkei 225

    40,003.60
    +263.20 (+0.66%)
     

Seagate (STX) Beats on Q3 Earnings & Revenues

Seagate Technology Plc STX is one of the largest manufacturers of hard disk drives (HDD) which caters to the needs of individual and small businesses.

However, for the past few years the company is focusing on the larger enterprise segment, where technology upgrades and cloud-related investments are on the rise. Moreover, Seagate’s cloud-based applications have generated ample customer interest.

Recent estimates for Seagate have moved upward, pushing up the Zacks Consensus Estimate as well. Notably, the company beat the Zacks Consensus Estimates in three of the trailing four-quarters.

Currently, Seagate has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

However, the Zacks Rank could definitely change following the company’s third-quarter fiscal 2018 report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Seagate reported non-GAAP earnings of $1.46 per share, which beat the Zacks Consensus Estimate of $1.36.

Revenues: Seagate posted revenues of $2.80 billion, which also beat the Zacks Consensus Estimate of $2.69 billion.

Key Stats: Seagate reported gross margin of 30.8% in the quarter.
 

Seagate Technology PLC Price

Seagate Technology PLC Price | Seagate Technology PLC Quote

 

Stock Price: Shares are down almost 6% in the pre-market session.

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Seagate Technology PLC (STX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Advertisement