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 research firms recently commented on STX. BNP Paribas lowered Seagate Technology from a neutral rating to an underperform rating and set a $65.00 price objective on the stock. in a research note on Thursday, January 11th. Robert W. Baird increased their price objective on Seagate Technology from $70.00 to $100.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Morgan Stanley raised Seagate Technology from an equal weight rating to an overweight rating and increased their price objective for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Benchmark reaffirmed a hold rating on shares of Seagate Technology in a research note on Wednesday. Finally, TD Cowen increased their price objective on Seagate Technology from $85.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Seagate Technology currently has a consensus rating of Hold and an average price target of $94.53.

Seagate Technology Price Performance

Shares of NASDAQ STX traded up $0.15 during mid-day trading on Thursday, hitting $87.26. The company had a trading volume of 3,164,158 shares, compared to its average volume of 2,859,756. The stock has a market cap of $18.28 billion, a price-to-earnings ratio of -67.64, a PEG ratio of 715.12 and a beta of 1.04. Seagate Technology has a 12 month low of $54.47 and a 12 month high of $101.26. The firm’s 50 day simple moving average is $89.28 and its two-hundred day simple moving average is $82.67.

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

Seagate Technology Dividend Announcement

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

Seagate Technology Company Profile

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.