Western Digital (WDC) closed at $372.52 in the latest trading session, marking a +2.99% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 1.79%, and the Nasdaq, a tech-heavy index, added 1.52%.
Shares of the maker of hard drives for businesses and personal computers have appreciated by 14.12% over the course of the past month, outperforming the Computer and Technology sector's gain of 8.24%, and the S&P 500's gain of 5.15%.
The upcoming earnings release of Western Digital will be of great interest to investors. The company's earnings report is expected on April 30, 2026. The company's earnings per share (EPS) are projected to be $2.36, reflecting a 73.53% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $3.23 billion, reflecting a 40.71% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.94 per share and revenue of $12.45 billion. These totals would mark changes of +81.34% and -6.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Western Digital. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% increase. Right now, Western Digital possesses a Zacks Rank of #3 (Hold).
Investors should also note Western Digital's current valuation metrics, including its Forward P/E ratio of 40.45. This signifies a premium in comparison to the average Forward P/E of 13.01 for its industry.
Also, we should mention that WDC has a PEG ratio of 0.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer- Storage Devices was holding an average PEG ratio of 1.43 at yesterday's closing price.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 30, finds itself in the top 13% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).