Seagate Technology (NASDAQ:STX – Get Free Report) posted its quarterly earnings data on Tuesday. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04, Briefing.com reports. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Seagate Technology’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.43) EPS. Seagate Technology updated its Q4 guidance to $0.50-0.90 EPS and its Q4 2024 guidance to 0.500-0.900 EPS.
Seagate Technology Stock Performance
STX traded up $1.35 on Tuesday, hitting $86.53. 5,991,876 shares of the company were exchanged, compared to its average volume of 2,798,703. The firm has a fifty day simple moving average of $89.31 and a two-hundred day simple moving average of $82.47. The stock has a market capitalization of $18.13 billion, a PE ratio of -24.34, a price-to-earnings-growth ratio of 681.49 and a beta of 1.04. Seagate Technology has a 12 month low of $54.47 and a 12 month high of $101.26.
Seagate Technology Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.24%. Seagate Technology’s payout ratio is -80.00%.
Wall Street Analyst Weigh In
Check Out Our Latest Report on Seagate Technology
About Seagate Technology
Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.
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