Seagate (STX) Reports Next Week: Wall Street Expects Earnings Growth

Core Viewpoint - Seagate (STX) is anticipated to report a year-over-year increase in earnings driven by higher revenues, with the actual results having a significant impact on its near-term stock price [1][2]. Earnings Expectations - The upcoming earnings report is expected to be released on October 28, with a consensus EPS estimate of $2.37, reflecting a +50% year-over-year change. Revenues are projected to be $2.53 billion, up 16.7% from the previous year [3][2]. Estimate Revisions - The consensus EPS estimate has been revised 1.35% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Most Accurate Estimate for Seagate is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +1.90%. This suggests a bullish outlook on the company's earnings prospects [12]. Historical Performance - Seagate has consistently beaten consensus EPS estimates, achieving this in the last four quarters. In the most recent quarter, the company reported earnings of $2.59 per share against an expected $2.46, resulting in a surprise of +5.28% [13][14]. Investment Considerations - While Seagate is positioned as a strong candidate for an earnings beat, investors are advised to consider other factors that may influence stock performance beyond earnings results [15][17].