Factors to Note Ahead of Seagate's (STX) Q3 Earnings Release

Zacks04-18

Seagate Technology Holdings plc STX is scheduled to report third-quarter fiscal 2024 earnings on Apr 23.The Zacks Consensus Estimate for the earnings is pegged at 25 cents per share. STX reported a ...

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STX reported a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/factors-note-ahead-seagates-stx-130000849.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Factors to Note Ahead of Seagate's (STX) Q3 Earnings Release</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFactors to Note Ahead of Seagate's (STX) Q3 Earnings Release\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-18 21:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/factors-note-ahead-seagates-stx-130000849.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Seagate Technology Holdings plc STX is scheduled to report third-quarter fiscal 2024 earnings on Apr 23.The Zacks Consensus Estimate for the earnings is pegged at 25 cents per share. STX reported a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/factors-note-ahead-seagates-stx-130000849.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"STX","symbol_name":"希捷科技","start_time":0,"source_url":"https://finance.yahoo.com/news/factors-note-ahead-seagates-stx-130000849.html","article_id":"2428987518","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/hb34T5JpqfOKFdxuauyatA--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/560ce7090345bb7408c706b8e0a8c3fc"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428987518","pubTimestamp":1713445200,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Seagate Technology Holdings plc STX is scheduled to report third-quarter fiscal 2024 earnings on Apr 23.The Zacks Consensus Estimate for the earnings is pegged at 25 cents per share. STX reported a loss of 28 cents per share in the prior-year quarter. The consensus estimate for revenues is pegged at $1.65 billion, suggesting a decline of 11.6% from a year ago.Management anticipates third-quarter fiscal 2024 revenues to be $1.65 billion . Non-GAAP earnings are expected to be 25 cents per share .STX’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and missed twice. The average earnings surprise is 9%.Seagate Technology Holdings PLC Price and EPS Surprise. Seagate Technology Holdings PLC price-eps-surprise | Seagate Technology Holdings PLC Quote. Here are some other stocks you may consider, as our model shows that these, too, have the right","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"STX":"希捷科技"},"translate_title":"希捷（Seagate）第三季度财报发布前需要注意的因素","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STX":1},"content_text":"Seagate Technology Holdings plc STX is scheduled to report third-quarter fiscal 2024 earnings on Apr 23.The Zacks Consensus Estimate for the earnings is pegged at 25 cents per share. STX reported a loss of 28 cents per share in the prior-year quarter. The consensus estimate for revenues is pegged at $1.65 billion, suggesting a decline of 11.6% from a year ago.Management anticipates third-quarter fiscal 2024 revenues to be $1.65 billion (+/- $150 million). Non-GAAP earnings are expected to be 25 cents per share (+/- 20 cents).STX’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and missed twice. The average earnings surprise is 9%.\n\nSeagate Technology Holdings PLC Price and EPS Surprise\n\nSeagate Technology Holdings PLC price-eps-surprise | Seagate Technology Holdings PLC Quote\n\nFactors Setting the Tone for Q3\nWeakness in global macroeconomic conditions, especially a relatively sluggish recovery in China, remains a major concern. IT budget spending is expected to remain somewhat muted amid a volatile macro backdrop.The VIA market is anticipated to reflect seasonal patterns in 2024, with the March quarter being the low point, noted management. Revenues from the legacy market are forecast to decline in the current quarter on a sequential basis owing to lower consumer demand in the after-holiday season.However, management expects incremental improvements in mass capacity demand from cloud and enterprise clients to more than offset the seasonal downtick in demand in both the VIA and legacy markets for the fiscal third quarter.Mass capacity demand improvement is likely to have been cushioned by higher nearline cloud demand. Nearline cloud revenues are likely to gain from improving sales to cloud customers across the United States and steadying enterprise demand. Improving demand for SSD products is driving the non-HDD segment’s revenue growth.Secular trends and innovations in driving up aerial density are likely to spur mass capacity storage demand. Also, the company is likely to have benefited from an uptake of 24TB PMR / 28TB SMR drives, which began shipping in December 2023.Our estimate for revenues from the HDD segment is pegged at $1,443.4 million, indicating a decline of 10% from a year ago. The estimate for the non-HDD (which includes enterprise data solutions, cloud systems and solid-state drives) segment is pegged at $183 million, implying a decrease of 28.5% from the prior-year levels.\nWhat the Zacks Model Unveils\nOur proven model predicts an earnings beat for Seagate this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.\nSeagate has an Earnings ESP of +8.00% and carries a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.\nOther Stocks to Consider\nHere are some other stocks you may consider, as our model shows that these, too, have the right combination of elements to beat on earnings this season.Meta Platforms META has an Earnings ESP of +3.26% and presently carries a Zacks Rank #2. META is slated to release quarterly numbers on Apr 24. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for META’s to-be-reported quarter’s EPS and revenues is pegged at $4.31 and $36.22 billion, respectively. Shares of META have gained 129.1% in the past year.IMAX Corporation IMAX has an Earnings ESP of +56.00% and currently carries a Zacks Rank #3. IMAX is scheduled to report quarterly earnings on Apr 25.The Zacks Consensus Estimate for IMAX’s to-be-reported quarter’s EPS and revenues is pegged at 8 cents and $75.8 million, respectively. Shares of IMAX have lost 17.9% in the past year.Lam Research Corporation LRCX has an Earnings ESP of +0.26% and a Zacks Rank #3. LRCX is set to report quarterly figures on Apr 24.The Zacks Consensus Estimate for LRCX’s to-be-reported quarter’s EPS and revenues is pegged at $7.23 and $3.7 billion, respectively. Shares of LRCX have surged 85.8% in the past year.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSeagate Technology Holdings PLC (STX) : Free Stock Analysis Report\nLam Research Corporation (LRCX) : Free Stock Analysis Report\nIMAX Corporation (IMAX) : Free Stock Analysis Report\nMeta Platforms, Inc. (META) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428987518"}