Farm & Ranch News

Seagate Tops 2Q Estimates, 3Q Outlook Disappoints

NASDAQ - up - 8 hours 44 min ago

Seagate Technology reported better-than-expected 2Q results. However, shares of the data storage company dropped 4.5% in Thursday’s extended trading session as its 3Q outlook fell short of Street estimates.

Seagate (STX) expects to report revenues of $2.65 billion (+/- $200 million) in 3Q, versus analysts’ expectations of $2.67 billion. Its adjusted EPS projection of $1.30 (+/- $0.15) also landed below the consensus estimate of $1.31.

Coming back to 2Q performance, Seagate's revenues of $2.62 billion declined 2.7% year-over-year but surpassed analysts’ expectations of $2.55 billion. Its adjusted EPS dropped 4.4% to $1.29 but easily exceeded the Street's estimate of $1.10. (See STX stock analysis on TipRanks)

Seagate announced that its board of directors has approved a quarterly cash dividend of $0.67 per share, payable on Apr. 7 to shareholders of record as of Mar. 24. Based on the company’s closing price of $62.94 on Thursday, its annualized dividend yield stands at 4.3%.

Following the earnings release, Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating and price target of $78 (23.9% upside potential) on the stock. In a note to investors, Cassidy wrote, “We continue recommending STX shares for its strong product cycle, cash flow generation and investor friendly capital policy.”

Overall, analysts remain cautiously optimistic about the stock, with the analyst consensus of a Moderate Buy based on 7 Buys, 6 Holds and 3 Sells. The average price target of $61.38 implies 2.5% downside potential to current levels. Shares have gained 3.1% over the past year.

Related News:
P&G Raises 2021 Sales Outlook After 2Q Results Beat Street Estimates
UnitedHealth 4Q Sales Top Street Estimates Driven By Optum Business
United Airlines Posts Wider-Than-Feared Loss of $1.9B In 4Q; Street Says Hold

Categories: Farm & Ranch News

Seagate Tops 2Q Estimates, 3Q Outlook Disappoints

NASDAQ - down - 8 hours 44 min ago

Seagate Technology reported better-than-expected 2Q results. However, shares of the data storage company dropped 4.5% in Thursday’s extended trading session as its 3Q outlook fell short of Street estimates.

Seagate (STX) expects to report revenues of $2.65 billion (+/- $200 million) in 3Q, versus analysts’ expectations of $2.67 billion. Its adjusted EPS projection of $1.30 (+/- $0.15) also landed below the consensus estimate of $1.31.

Coming back to 2Q performance, Seagate's revenues of $2.62 billion declined 2.7% year-over-year but surpassed analysts’ expectations of $2.55 billion. Its adjusted EPS dropped 4.4% to $1.29 but easily exceeded the Street's estimate of $1.10. (See STX stock analysis on TipRanks)

Seagate announced that its board of directors has approved a quarterly cash dividend of $0.67 per share, payable on Apr. 7 to shareholders of record as of Mar. 24. Based on the company’s closing price of $62.94 on Thursday, its annualized dividend yield stands at 4.3%.

Following the earnings release, Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating and price target of $78 (23.9% upside potential) on the stock. In a note to investors, Cassidy wrote, “We continue recommending STX shares for its strong product cycle, cash flow generation and investor friendly capital policy.”

Overall, analysts remain cautiously optimistic about the stock, with the analyst consensus of a Moderate Buy based on 7 Buys, 6 Holds and 3 Sells. The average price target of $61.38 implies 2.5% downside potential to current levels. Shares have gained 3.1% over the past year.

Related News:
P&G Raises 2021 Sales Outlook After 2Q Results Beat Street Estimates
UnitedHealth 4Q Sales Top Street Estimates Driven By Optum Business
United Airlines Posts Wider-Than-Feared Loss of $1.9B In 4Q; Street Says Hold

Categories: Farm & Ranch News

ANALYSIS-Wall Street hedges against possible bumps in U.S. vaccine rollout

NASDAQ - up - 9 hours 54 min ago
As U.S. stock prices have marched to record highs, futures contracts for Wall Street's "fear gauge" show some investors are buying insurance against market turbulence that could erupt if surprise glitches hit the U.S. rollout of COVID-19 vaccines.
Categories: Farm & Ranch News

ANALYSIS-Wall Street hedges against possible bumps in U.S. vaccine rollout

NASDAQ - down - 9 hours 54 min ago
As U.S. stock prices have marched to record highs, futures contracts for Wall Street's "fear gauge" show some investors are buying insurance against market turbulence that could erupt if surprise glitches hit the U.S. rollout of COVID-19 vaccines.
Categories: Farm & Ranch News

ANALYSIS-Wall Street hedges against possible bumps in U.S. vaccine rollout

NASDAQ - up - 9 hours 54 min ago
As U.S. stock prices have marched to record highs, futures contracts for Wall Street's "fear gauge" show some investors are buying insurance against market turbulence that could erupt if surprise glitches hit the U.S. rollout of COVID-19 vaccines.
Categories: Farm & Ranch News

ANALYSIS-Wall Street hedges against possible bumps in U.S. vaccine rollout

NASDAQ - down - 9 hours 54 min ago
As U.S. stock prices have marched to record highs, futures contracts for Wall Street's "fear gauge" show some investors are buying insurance against market turbulence that could erupt if surprise glitches hit the U.S. rollout of COVID-19 vaccines.
Categories: Farm & Ranch News

Malaysia's Dec CPI falls 1.4% y/y, in line with forecast

NASDAQ - up - Thu, 01/21/2021 - 22:00
Malaysia's consumer price index (CPI) fell 1.4% from a year earlier in December, largely due to lower fuel prices, government data showed on Friday.
Categories: Farm & Ranch News

Malaysia's Dec CPI falls 1.4% y/y, in line with forecast

NASDAQ - down - Thu, 01/21/2021 - 22:00
Malaysia's consumer price index (CPI) fell 1.4% from a year earlier in December, largely due to lower fuel prices, government data showed on Friday.
Categories: Farm & Ranch News

Indonesia probing whether faulty system contributed to Sriwijaya Air crash

NASDAQ - Thu, 01/21/2021 - 21:43
Indonesia's air accident investigator is probing whether a problem with the autothrottle system, that controls engine power automatically, contributed to the Sriwijaya Air crash on Jan. 9 that killed all 62 people on board, an official said on Friday.
Categories: Farm & Ranch News

DEPARTMENT OF AGRICULTURE NEWS RELEASE: Live Skunk Captured at Honolulu Harbor

Agriculture News - Thu, 01/21/2021 - 20:59
… the Hawai`i Department of Agriculture (HDOA) were called by the … Officer Hawai`i Department of Agriculture (808) 973-9560 [email protected …
Categories: Farm & Ranch News

Flourishing Demand of Global Agricultural Disinfectant Industry Market by 2020-2027 with Top Leading Players like Fink Tech GmbH, Thymox Technology, Stepan Company, Neogen Corporation

Agriculture News - Thu, 01/21/2021 - 19:14
… RW00013705714/sample  The Global Agricultural Disinfectant Industry Market research report … and forecast of the global Agricultural Disinfectant Industry market based on … forecast till 2024 for overall Agricultural Disinfectant Industry market with respect …
Categories: Farm & Ranch News

POLL-S.Korea's Q4 growth likely slowed as exports recovery tempered by virus impact

NASDAQ - up - Thu, 01/21/2021 - 19:00
The South Korean economy likely grew at a slower pace in the fourth quarter as a boost in exports was partially offset by sluggish domestic demand due to toughened COVID-19 social distancing measures since late last year.
Categories: Farm & Ranch News

POLL-S.Korea's Q4 growth likely slowed as exports recovery tempered by virus impact

NASDAQ - down - Thu, 01/21/2021 - 19:00
The South Korean economy likely grew at a slower pace in the fourth quarter as a boost in exports was partially offset by sluggish domestic demand due to toughened COVID-19 social distancing measures since late last year.
Categories: Farm & Ranch News

Farm Progress America, January 21, 2021

Agriculture News - Thu, 01/21/2021 - 18:44
… look at key issues in agriculture. It is produced and presented … host of This Week in Agribusiness. Photo: Matthias Kulka/iStock …
Categories: Farm & Ranch News

Farm economy looking up, but proceed with caution

Agriculture News - Thu, 01/21/2021 - 18:44
… adjustment, information regarding how the agricultural sector is weathering the storm … to be trickling through the agricultural industry. For example, John Deere … , spurred by stronger than expected agricultural equipment sales.   Although reinvesting excess …
Categories: Farm & Ranch News

Digital agriculture connects dots for crop improvement

Agriculture News - Thu, 01/21/2021 - 18:44
… the Texas A&M AgriLife Digital Agricultural Program, DAP, was … within the production agriculture context.” Murilo Maeda, AgriLife Extension cotton specialist … those involved in agricultural production.”        Source: is AgriLife TODAY, which is …
Categories: Farm & Ranch News

Georgia Cotton Commission annual meeting goes virtual Jan. 27

Agriculture News - Thu, 01/21/2021 - 18:44
… . Ed Barnes, Senior Director of Agricultural & Environmental Research, Cotton Incorporated … U.S. House Committee on Agriculture Update – Congressman David Scott, … University of Georgia College of Agricultural & Environmental Sciences Update – Dr …
Categories: Farm & Ranch News

Bulls are back in town

Agriculture News - Thu, 01/21/2021 - 18:44
… according to the January World Agricultural Supply and Demand Estimates (WASDE …
Categories: Farm & Ranch News

Biden takes quick action on climate

Agriculture News - Thu, 01/21/2021 - 18:44
… the accord is important for agriculture. “SfL endorses this … to include changes in net agricultural productivity, human health, … , executive vice president of Agribusiness Freedom Foundation, says halting … in the future for agricultural operations” and “it …
Categories: Farm & Ranch News

USDA appoints members to the task force on agricultural air quality research

Agriculture News - Thu, 01/21/2021 - 18:30
… . (KOLD News 13) - Former Agriculture Secretary Sonny Perdue announced on … on the Task Force for Agricultural Air Quality Research. Newly appointed …
Categories: Farm & Ranch News

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