S&P 500 (NYSE:SPY) component Seagate Technology PLC (NASDAQ:STX) will unveil its latest earnings tomorrow, Monday, January 28, 2013. Seagate Technology is a provider of hard disk drives. It designs, manufactures, markets and sells hard disk drives. The company produces a range of disk drive products addressing enterprise applications.
Seagate Technology PLC Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.27 per share, a decline of 3.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.79. Between one and three months ago, the average estimate moved down. It has risen from $1.26 during the last month. Analysts are projecting profit to rise by 22.2% versus last year to $5.25.
Past Earnings Performance: The company is looking to break the streak of missing estimates in the past two quarters. Last quarter, it fell short of analyst expectations by reporting net income of $1.45 per share against an estimate of profit of $1.69 per share. The quarter before that, it missed forecasts by 10 cents.
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A Look Back: In the first quarter, profit rose more than fourfold to $582 million ($1.42 a share) from $140 million (32 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 32.8% to $3.73 billion from $2.81 billion.
Here’s how Seagate Technology PLC traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week: