News coverage about Western Digital (NASDAQ:WDC) has been trending somewhat positive on Monday, Accern Sentiment reports. Accern ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Western Digital earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave news coverage about the data storage provider an impact score of 46.1314755524557 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern Sentiment’s analysis:
- Amazon is selling a 2TB WD external hard drive for just $58.49 (macworld.com)
- This $58 WD Elements portable hard drive can store up to 2TB of files (windowscentral.com)
- WD-40 Will Funnel Tax Savings to Boost Digital Brand Presence (blogs.wsj.com)
- Review: Western Digital My Passport Wireless SSD (1TB) (thephoblographer.com)
- Trade Wars & Supply Chain Risk: Resilinc Online Event 26 April 2018 (prweb.com)
A number of equities analysts recently commented on the stock. ValuEngine lowered shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Royal Bank of Canada raised their price target on shares of Western Digital to $120.00 and gave the stock an “outperform” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating and set a $108.00 price target on the stock in a research report on Friday, March 30th. Barclays raised their price target on shares of Western Digital from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 27th. Finally, Robert W. Baird raised shares of Western Digital from a “neutral” rating to an “outperform” rating in a research report on Friday, March 16th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $111.52.
Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, January 25th. The data storage provider reported $3.95 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.44. Western Digital had a net margin of 1.93% and a return on equity of 30.78%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the company posted $2.30 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. equities analysts forecast that Western Digital will post 12.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $2.00 annualized dividend and a yield of 2.26%. Western Digital’s dividend payout ratio is presently 25.32%.
In related news, CEO Stephen D. Milligan sold 16,511 shares of Western Digital stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $84.00, for a total transaction of $1,386,924.00. Following the sale, the chief executive officer now directly owns 156,882 shares in the company, valued at approximately $13,178,088. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark P. Long sold 7,026 shares of Western Digital stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $98.64, for a total transaction of $693,044.64. Following the sale, the chief financial officer now owns 211,817 shares in the company, valued at $20,893,628.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 259,704 shares of company stock worth $23,780,295. 0.31% of the stock is owned by corporate insiders.
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About Western Digital
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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