Micron (MU) closed at $59.03 in the latest trading session, marking a -1.6% move from the prior day. This change lagged the S&P 500's 0.38% loss on the day. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.67%.
Heading into today, shares of the chipmaker had gained 1.39% over the past month, lagging the Computer and Technology sector's gain of 3.8% and the S&P 500's gain of 1.91% in that time.
MU will be looking to display strength as it nears its next earnings release, which is expected to be March 25, 2020. In that report, analysts expect MU to post earnings of $0.37 per share. This would mark a year-over-year decline of 78.36%. Meanwhile, our latest consensus estimate is calling for revenue of $4.67 billion, down 20% from the prior-year quarter.
MU's full-year Zacks Consensus Estimates are calling for earnings of $2.43 per share and revenue of $20.44 billion. These results would represent year-over-year changes of -61.73% and -12.66%, respectively.
Any recent changes to analyst estimates for MU should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.87% higher within the past month. MU is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, MU is currently trading at a Forward P/E ratio of 24.69. This represents a no noticeable deviation compared to its industry's average Forward P/E of 24.69.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 1, putting it in the top 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Image: Bigstock
Micron (MU) Dips More Than Broader Markets: What You Should Know
Micron (MU) closed at $59.03 in the latest trading session, marking a -1.6% move from the prior day. This change lagged the S&P 500's 0.38% loss on the day. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.67%.
Heading into today, shares of the chipmaker had gained 1.39% over the past month, lagging the Computer and Technology sector's gain of 3.8% and the S&P 500's gain of 1.91% in that time.
MU will be looking to display strength as it nears its next earnings release, which is expected to be March 25, 2020. In that report, analysts expect MU to post earnings of $0.37 per share. This would mark a year-over-year decline of 78.36%. Meanwhile, our latest consensus estimate is calling for revenue of $4.67 billion, down 20% from the prior-year quarter.
MU's full-year Zacks Consensus Estimates are calling for earnings of $2.43 per share and revenue of $20.44 billion. These results would represent year-over-year changes of -61.73% and -12.66%, respectively.
Any recent changes to analyst estimates for MU should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.87% higher within the past month. MU is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, MU is currently trading at a Forward P/E ratio of 24.69. This represents a no noticeable deviation compared to its industry's average Forward P/E of 24.69.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 1, putting it in the top 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.
You can find more information on all of these metrics, and much more, on Zacks.com.