Micron (MU - Free Report) closed the most recent trading day at $38.41, moving -0.26% from the previous trading session. This change lagged the S&P 500's 0.58% gain on the day. Elsewhere, the Dow gained 0.45%, while the tech-heavy Nasdaq added 1.13%.
Prior to today's trading, shares of the chipmaker had lost 9.94% over the past month. This has lagged the Computer and Technology sector's loss of 4.08% and the S&P 500's loss of 2.34% in that time.
MU will be looking to display strength as it nears its next earnings release. In that report, analysts expect MU to post earnings of $0.85 per share. This would mark a year-over-year decline of 73.02%. Meanwhile, our latest consensus estimate is calling for revenue of $4.80 billion, down 38.41% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.40 per share and revenue of $23.51 billion, which would represent changes of -46.44% and -22.65%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MU. These recent revisions tend to reflect the evolving nature of short-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. Within the past 30 days, our consensus EPS projection remained stagnant. MU is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, MU currently has a Forward P/E ratio of 6.02. This represents a no noticeable deviation compared to its industry's average Forward P/E of 6.02.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 255, putting it in the bottom 1% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.