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Micron (MU) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, Micron (MU - Free Report) was down 4.88% at $109.14. The stock's performance was behind the S&P 500's daily loss of 0.37%. At the same time, the Dow lost 0.74%, and the tech-heavy Nasdaq lost 0.03%.
The stock of chipmaker has fallen by 5.75% in the past month, lagging the Computer and Technology sector's gain of 4.58% and the S&P 500's gain of 2.68%.
Market participants will be closely following the financial results of Micron in its upcoming release. The company's upcoming EPS is projected at $2.51, signifying a 112.71% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.73 billion, up 38.45% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.77 per share and revenue of $36.79 billion. These totals would mark changes of +497.69% and +46.52%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Micron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.2% decrease. Micron is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Micron is currently exchanging hands at a Forward P/E ratio of 14.77. This valuation marks a discount compared to its industry average Forward P/E of 19.96.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Micron (MU) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, Micron (MU - Free Report) was down 4.88% at $109.14. The stock's performance was behind the S&P 500's daily loss of 0.37%. At the same time, the Dow lost 0.74%, and the tech-heavy Nasdaq lost 0.03%.
The stock of chipmaker has fallen by 5.75% in the past month, lagging the Computer and Technology sector's gain of 4.58% and the S&P 500's gain of 2.68%.
Market participants will be closely following the financial results of Micron in its upcoming release. The company's upcoming EPS is projected at $2.51, signifying a 112.71% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.73 billion, up 38.45% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.77 per share and revenue of $36.79 billion. These totals would mark changes of +497.69% and +46.52%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Micron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.2% decrease. Micron is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Micron is currently exchanging hands at a Forward P/E ratio of 14.77. This valuation marks a discount compared to its industry average Forward P/E of 19.96.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.