Seagate Technology Falls Despite Q1 Earnings Beat And Rising Margins
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Financial Performance: Seagate Technology reported first-quarter revenue of $2.17 billion, exceeding expectations, with adjusted EPS of $1.58 also beating consensus estimates. The company generated significant operating cash flow and returned $147 million to shareholders through dividends.
Future Outlook: The company anticipates second-quarter adjusted EPS of $1.85 and revenue of $2.30 billion, both above market estimates, while shares have declined by 6.66% to $105.14.
Analyst Views on NEWZ
Wall Street analysts forecast NEWZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NEWZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 27.601
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
