Unlocking Q2 Potential of Seagate (STX): Exploring Wall Street Estimates for Key Metrics
Wall Street analysts expect Seagate (STX) to post quarterly loss of $0.08 per share in its upcoming report, which indicates a year-over-year decline of 150%. Revenues are expected to be $1.55 billion, down 18.1% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 233.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
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.
Analysts forecast 'Revenue by Product Line- Enterprise Data Solutions, SSD & Other' to reach $159.34 million. The estimate indicates a year-over-year change of -28.9%.
Based on the collective assessment of analysts, 'Revenue by Product Line- HDD' should arrive at $1.39 billion. The estimate indicates a change of -16.3% from the prior-year quarter.
It is projected by analysts that the 'Capacity Shipped - Mass capacity' will reach 83.76 EB. Compared to the present estimate, the company reported 96.7 EB in the same quarter last year.
The combined assessment of analysts suggests that 'HDD Price per Terabyte' will likely reach $14.55. The estimate compares to the year-ago value of $15.
Analysts predict that the 'Capacity Shipped - Total' will reach 95.43 EB. Compared to the current estimate, the company reported 112.5 EB in the same quarter of the previous year.
The consensus among analysts is that 'Capacity Shipped - Legacy' will reach 11.68 EB. The estimate compares to the year-ago value of 15.8 EB.
View all Key Company Metrics for Seagate here>>>
Shares of Seagate have demonstrated returns of -1.6% over the past month compared to the Zacks S&P 500 composite's +0.9% change. With a Zacks Rank #2 (Buy), STX is expected to beat 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
