Credit: Shutterstock photoWestern Digital CorporationWDC is an American computer data storage company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on WDC's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Western Digital could be a solid choice for investors.
Current Quarter Estimates for WDC
In the past 30 days, 2 estimates have gone higher for Western Digital while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from $1.30 a share 30 days ago, to $1.79 per share today, a move of 37.7%.
Current Year Estimates for WDC
Meanwhile, Western Digital's current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, rising from $5.57 per share 30 days ago to $7.03 per share today, an increase of 26.2%.
Western Digital Corporation Price and Consensus
Western Digital Corporation Price and Consensus | Western Digital Corporation Quote
Bottom Line
The stock has also started to move higher lately, adding 12.16% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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Western Digital Corporation (WDC): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
