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Micron (MU) Dips More Than Broader Markets: What You Should Know
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Micron (MU - Free Report) closed the most recent trading day at $37.39, moving -1.81% from the previous trading session. This change lagged the S&P 500's 0.15% loss on the day. Meanwhile, the Dow gained 0.21%, and the Nasdaq, a tech-heavy index, lost 0.81%.
Coming into today, shares of the chipmaker had gained 20.01% in the past month. In that same time, the Computer and Technology sector gained 5.57%, while the S&P 500 gained 6.55%.
Investors will be hoping for strength from MU as it approaches its next earnings release, which is expected to be March 28, 2019. On that day, MU is projected to report earnings of $1.75 per share, which would represent a year-over-year decline of 37.94%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.02 billion, down 18.16% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $7.72 per share and revenue of $25.68 billion. These results would represent year-over-year changes of -35.4% and -15.49%, respectively.
Investors might also notice recent changes to analyst estimates for MU. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 3.11% lower. MU is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that MU has a Forward P/E ratio of 4.94 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 4.94.
It is also worth noting that MU currently has a PEG ratio of 0.78. 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. The Semiconductor Memory was holding an average PEG ratio of 0.78 at yesterday's closing price.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 256, putting it in the bottom 1% 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 the most recent trading day at $37.39, moving -1.81% from the previous trading session. This change lagged the S&P 500's 0.15% loss on the day. Meanwhile, the Dow gained 0.21%, and the Nasdaq, a tech-heavy index, lost 0.81%.
Coming into today, shares of the chipmaker had gained 20.01% in the past month. In that same time, the Computer and Technology sector gained 5.57%, while the S&P 500 gained 6.55%.
Investors will be hoping for strength from MU as it approaches its next earnings release, which is expected to be March 28, 2019. On that day, MU is projected to report earnings of $1.75 per share, which would represent a year-over-year decline of 37.94%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.02 billion, down 18.16% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $7.72 per share and revenue of $25.68 billion. These results would represent year-over-year changes of -35.4% and -15.49%, respectively.
Investors might also notice recent changes to analyst estimates for MU. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 3.11% lower. MU is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that MU has a Forward P/E ratio of 4.94 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 4.94.
It is also worth noting that MU currently has a PEG ratio of 0.78. 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. The Semiconductor Memory was holding an average PEG ratio of 0.78 at yesterday's closing price.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 256, putting it in the bottom 1% 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.