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Micron (MU) Outpaces Stock Market Gains: What You Should Know
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Micron (MU - Free Report) closed at $71.25 in the latest trading session, marking a +0.69% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.65%.
Heading into today, shares of the chipmaker had gained 0.37% over the past month, lagging the Computer and Technology sector's gain of 6% and the S&P 500's gain of 6.38% in that time.
MU will be looking to display strength as it nears its next earnings release, which is expected to be December 20, 2021. In that report, analysts expect MU to post earnings of $2.10 per share. This would mark year-over-year growth of 169.23%. Our most recent consensus estimate is calling for quarterly revenue of $7.66 billion, up 32.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.84 per share and revenue of $31.34 billion. These totals would mark changes of +45.87% and +13.13%, respectively, from last year.
Any recent changes to analyst estimates for MU should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MU is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, MU currently has a Forward P/E ratio of 8.01. This represents a no noticeable deviation compared to its industry's average Forward P/E of 8.01.
Meanwhile, MU's PEG ratio is currently 0.35. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MU's industry had an average PEG ratio of 0.35 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 251, putting it in the bottom 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Micron (MU) Outpaces Stock Market Gains: What You Should Know
Micron (MU - Free Report) closed at $71.25 in the latest trading session, marking a +0.69% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.65%.
Heading into today, shares of the chipmaker had gained 0.37% over the past month, lagging the Computer and Technology sector's gain of 6% and the S&P 500's gain of 6.38% in that time.
MU will be looking to display strength as it nears its next earnings release, which is expected to be December 20, 2021. In that report, analysts expect MU to post earnings of $2.10 per share. This would mark year-over-year growth of 169.23%. Our most recent consensus estimate is calling for quarterly revenue of $7.66 billion, up 32.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.84 per share and revenue of $31.34 billion. These totals would mark changes of +45.87% and +13.13%, respectively, from last year.
Any recent changes to analyst estimates for MU should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MU is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, MU currently has a Forward P/E ratio of 8.01. This represents a no noticeable deviation compared to its industry's average Forward P/E of 8.01.
Meanwhile, MU's PEG ratio is currently 0.35. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MU's industry had an average PEG ratio of 0.35 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 251, putting it in the bottom 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.