Western Digital Corp (NASDAQ: WDC) has reported earnings for its third fiscal quarter (ending March 31) of $0.35 versus a loss $-1.82 for the same period a year ago. For the latest four quarters through March 31, E.P.S. were $-4.99 versus $-2.18 for the same period a year ago.
Recent Price Action
Western Digital Corp (NASDAQ: WDC) stock declined slightly by -0.2% on 4/25/24. The stock closed at $69.44. Moreover, above average trading volume at 125% of normal accompanied the decline. The stock has been exceptionally strong relative to the market over the last nine months but has declined -1.0% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, WDC is expected to continue to be a major Value Builder.
Western Digital has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Western Digital has a slightly negative Appreciation Score of 39 but a very high Power Rating of 100, triggering the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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