Seagate Technology Holdings plc STX is scheduled to release fourth-quarter fiscal 2021 results on Jul 21, before market opens.
Let’s check out the expectations in detail.
Q4 Expectations
The Zacks Consensus Estimate for Seagate Technology’s fourth-quarter fiscal 2021 revenues is pegged at $2.96 billion, indicating growth of 17.8% year over year. The reported figure lies above the guidance of $2.95 billion.
The top line is likely to have benefited from solid demand for its solutions in the mass capacity markets, distribution channel and record sales of the company’s high capacity nearline.
Ongoing operational execution is likely to have boosted the bottom line. The consensus mark for non-GAAP earnings is pegged at $1.81, suggesting a 50.8% jump from the year-ago quarter. The reported figure lies below the guidance of $1.85 billion.
What Our Model Says
Our proven model predicts an earnings beat for Seagate Technology 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. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Seagate Technology has an Earnings ESP of +5.33% and a Zacks Rank #1.
Other Stocks to Consider
Here are a few stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these too have the right combination of elements to beat on second-quarter 2021 earnings.
Omnicom OMC has an Earnings ESP of +10.19% and a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ManpowerGroup (NYSE:MAN) MAN has an Earnings ESP of +0.85% and a Zacks Rank #2.
Aptiv (NYSE:APTV) APTV has an Earnings ESP of +8.44% and a Zacks Rank #3.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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ManpowerGroup Inc. (MAN): Free Stock Analysis Report
Omnicom Group Inc. (NYSE:OMC): Free Stock Analysis Report
Seagate Technology Holdings PLC (STX): Free Stock Analysis Report
Aptiv PLC (APTV): Free Stock Analysis Report
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