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Micron (MU) Dips More Than Broader Markets: What You Should Know
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Micron (MU - Free Report) closed at $61.78 in the latest trading session, marking a -1.18% move from the prior day. This change lagged the S&P 500's daily loss of 0.89%. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Prior to today's trading, shares of the chipmaker had gained 18.59% over the past month. This has outpaced the Computer and Technology sector's gain of 10.6% and the S&P 500's gain of 11.42% in that time.
Micron will be looking to display strength as it nears its next earnings release. On that day, Micron is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 98.15%. Our most recent consensus estimate is calling for quarterly revenue of $4.29 billion, down 44.2% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.18 per share and revenue of $19.43 billion. These totals would mark changes of -97.84% and -36.82%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Micron. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.32% higher. Micron is currently a Zacks Rank #3 (Hold).
Digging into valuation, Micron currently has a Forward P/E ratio of 347.33. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 347.33.
Investors should also note that MU has a PEG ratio of 89.98 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MU's industry had an average PEG ratio of 89.98 as of yesterday's close.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Micron (MU) Dips More Than Broader Markets: What You Should Know
Micron (MU - Free Report) closed at $61.78 in the latest trading session, marking a -1.18% move from the prior day. This change lagged the S&P 500's daily loss of 0.89%. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Prior to today's trading, shares of the chipmaker had gained 18.59% over the past month. This has outpaced the Computer and Technology sector's gain of 10.6% and the S&P 500's gain of 11.42% in that time.
Micron will be looking to display strength as it nears its next earnings release. On that day, Micron is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 98.15%. Our most recent consensus estimate is calling for quarterly revenue of $4.29 billion, down 44.2% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.18 per share and revenue of $19.43 billion. These totals would mark changes of -97.84% and -36.82%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Micron. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.32% higher. Micron is currently a Zacks Rank #3 (Hold).
Digging into valuation, Micron currently has a Forward P/E ratio of 347.33. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 347.33.
Investors should also note that MU has a PEG ratio of 89.98 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MU's industry had an average PEG ratio of 89.98 as of yesterday's close.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.