Seagate Tech Ord Shs (NASDAQ:STX) shares traded on -4.19% below secure line and closed at $46.93. The stock exchanged hands 3.01 Million shares versus average trading capacity of 3.58 Million shares. It has a market cap of $13.68 Billion.
Wall Street analysts are predicting that Seagate Tech Ord Shs (NASDAQ:STX) will report earnings per share of $0.71 in their quarterly report. For the current quarter Seagate Tech Ord Shs (NASDAQ:STX) has high EPS estimates of $0.77 in contradiction of low EPS estimates of $0.65. However a year ago for the same quarter the company has reported $1.46 EPS. Average estimation for the current quarter has been provided by 23 analysts.
Investors as well as the sell-side will be paying close attention to how the actual numbers compare with the estimates. Earnings surprises can have a huge impact on a company’s stock price. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock’s price, but also to a gradual increase over time. Hence, it’s not surprising that some companies are known for routinely beating earning projections. A negative earnings surprise will usually result in a decline in share price.
A large surprise factor in either direction typically can lead to a significant swing in the stock price in the hours and days after the report. Previously Seagate Tech Ord Shs (NASDAQ:STX) reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.14 with surprise factor of 11%.
Seagate Tech Ord Shs (NASDAQ:STX) has average revenue estimates of $2.31 Billion, compared to low analyst estimates of $2.21 Billion and high estimates of $2.35 Billion for the current quarter. A total number of 21 analysts provided estimations over revenues. For the current year the company’s revenue estimates are $10.33 Billion compared to low analyst estimates of $10.07 Billion and high estimates of $10.47 Billion according to the prediction of 21 analysts.
Taking a broader look at the analyst consensus, according to 18 analysts Seagate Tech Ord Shs (NASDAQ:STX)’s price will reach at $43.44 during 52 weeks. Its minimum price target estimates has been figured out at $32 while the maximum price target forecast is established at $60.
On the other hand Seagate Tech Ord Shs (NASDAQ:STX) has Relative Strength Index (RSI 14) of 53.68 along with Average True Range (ATR 14) of 1.33. Where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock’s price movement. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days) as suggested by J Welles Wilder. In terms of market analysis and trading signals, RSI moving above the horizontal 30 reference level is viewed as a bullish indicator, while the RSI moving below the horizontal 70 reference level is seen to be a bearish indicator. The level of 50 represents neutral market momentum and corresponds with the center line in other oscillators such as MACD (Moving Average Convergence/Divergence). The average true range (ATR) is a measure of volatility introduced by Welles Wilder.
Consequently Seagate Tech Ord Shs (NASDAQ:STX)’s weekly and monthly volatility is 3.47%, 2.84% respectively.