MU’s multiples are in the same ballpark: it trades at under four times the forward consensus EPS estimate.
These returns cover a period from January 1, 1988 through July 6, 2020. NASDAQ data is at least 15 minutes delayed.This file is used for Yahoo remarketing pixel addWill the recent negative trend continue leading up to its next earnings release, or is Western Digital due for a breakout? All rights reserved. That cyclicality is why multiples in the space tend to stay low. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Real time prices by BATS. The stock has a 52-week range between $72 and $27.40. Each of the company logos represented herein are trademarks of Verizon Media; Microsoft Corporation; Nasdaq, Inc.; Dow Jones & Company; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. And the chart shows no indication that WDC stock has bottomed.Louis Navellier & Matt McCall debate it and name their #1 picks — FREE.As I previously noted, WDC stock isn’t the only name suffering a big pullback lately, even though its decline has been larger on a percentage basis. Western Digital (WDC) reported earnings 30 days ago. WDC | Complete Western Digital Corp. stock news by MarketWatch. Analysts are lowering their fiscal 2019 and fiscal 2020 estimates for the company, and the estimates could drop further. Equipment manufacturers LRCX and AMAT have moved to single-digit forward price-earnings ratios as well.Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. An increase of 88% from the average daily volume of 5,864,803 shares. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.Currently, Western Digital has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. However, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. As of this writing, the stock is at $42.85, down -2.01%. The company's product portfolio includes hard disk drives, solid-state drives, and public and private cloud data center storage solutions.Western Digital shares were down 5.88% at $43.44 during the time of publication on Friday. 1125 N. Charles St, Baltimore, MD 21201.Article printed from InvestorPlace Media, https://investorplace.com/2018/09/4-reasons-why-sell-off-western-digital-stock-over/.The company’s growth is admittedly slowing, but its business still looks stable. All rights reserved. Notably, Western Digital has a Zacks Rank #3 (Hold). Competitor Seagate Technology fared better after its ER yet its stock is richly valued at 25 times compared to 13 times for Western Digital. If the thesis for WDC stock is buying an out-of-favor cyclical at a “cheap” multiple, I see better options for doing that.Meanwhile, there’s no reason why the decline of WDC stock necessarily has to end at $55.
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