Seagate Technology (NASDAQ:STX) Issues Q4 Earnings Guidance

Seagate Technology (NASDAQ:STX) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.50-0.90 for the period, compared to the consensus EPS estimate of $0.61. The company issued revenue guidance of $1.70-2.00 billion, compared to the consensus revenue estimate of $1.85 billion. Seagate Technology also updated its Q4 2024 guidance to 0.500-0.900 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a hold rating on shares of Seagate Technology in a research report on Wednesday. UBS Group upped their target price on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a neutral rating in a report on Wednesday. Cantor Fitzgerald upped their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a neutral rating in a report on Wednesday. Robert W. Baird upped their target price on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group upped their target price on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a neutral rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $94.53.

Seagate Technology Stock Up 0.2 %

STX stock traded up $0.15 during trading on Thursday, hitting $87.26. 3,164,158 shares of the company’s stock traded hands, compared to its average volume of 2,859,756. The firm has a market capitalization of $18.28 billion, a P/E ratio of -67.64, a PEG ratio of 715.12 and a beta of 1.04. The business has a fifty day simple moving average of $89.28 and a two-hundred day simple moving average of $82.67. Seagate Technology has a 1 year low of $54.47 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the firm posted ($0.43) earnings per share. Seagate Technology’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, equities research analysts predict that Seagate Technology will post 0.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. Seagate Technology’s payout ratio is currently -217.05%.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.