In the latest trading session, Micron (MU - Free Report) closed at $33.74, marking a -0.76% move from the previous day. This move lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow gained 1.09%, and the Nasdaq, a tech-heavy index, added 1.08%.
Heading into today, shares of the chipmaker had lost 2.3% over the past month, outpacing the Computer and Technology sector's loss of 2.56% and the S&P 500's loss of 3.04% in that time.
Wall Street will be looking for positivity from MU as it approaches its next earnings report date. This is expected to be March 28, 2019. The company is expected to report EPS of $1.80, down 36.17% from the prior-year quarter. 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 $7.94 per share and revenue of $26.14 billion. These results would represent year-over-year changes of -33.56% and -14%, respectively.
It is also important to note the recent changes to analyst estimates for MU. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 19.45% lower. MU currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, MU currently has a Forward P/E ratio of 4.28. Its industry sports an average Forward P/E of 4.28, so we one might conclude that MU is trading at a no noticeable deviation comparatively.
Also, we should mention that MU has a PEG ratio of 0.67. 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. The Semiconductor Memory industry currently had an average PEG ratio of 0.67 as of yesterday's close.
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 256, which puts it in the bottom 0% 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.