What to Expect When Seagate Technologies Reports Earnings
Seagate (NASDAQ: STX) stock got off to an impressive start in 2017 thanks to a terrific fiscal second quarter that encouraged the company to raise its guidance. But things soon started going downhill as the storage specialist failed to deliver in the third quarter after setting high expectations.
Seagate shares are down roughly 20% since its quarterly report on April 26 (but up about 4% year to date) in as investors seem to have have lost confidence in the company's ability to deliver on its promises. The company turned in $2.67 billion in third-quarter revenue after forecasting that it could achieve a figure of almost $2.7 billion.
The stock dropped 17% on the day third-quarter earnings were announced even though Seagate beat the bottom-line estimate by three cents. What's in store when Seagate reports fourth-quarter results July 25? Let's take a look.
Source: Fool.com
Seagate Technology.Holdings plc Stock
The stock is one of the favorites of our community with 26 Buy predictions and 4 Sell predictions.
As a result the target price of 103 € shows a slightly positive potential of 11.71% compared to the current price of 92.2 € for Seagate Technology.Holdings plc.
