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Micron (MU) Gains As Market Dips: What You Should Know
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In the latest trading session, Micron (MU - Free Report) closed at $46.08, marking a +1.48% move from the previous day. This change outpaced the S&P 500's 0.7% loss on the day. Elsewhere, the Dow lost 0.92%, while the tech-heavy Nasdaq added 0.51%.
Wall Street will be looking for positivity from MU as it approaches its next earnings report date. The company is expected to report EPS of $0.56, down 46.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.91 billion, up 2.61% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $2.11 per share and revenue of $19.96 billion. These results would represent year-over-year changes of -66.77% and -14.73%, respectively.
Investors might also notice recent changes to analyst estimates for MU. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. MU is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note MU's current valuation metrics, including its Forward P/E ratio of 21.51. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 21.51.
Meanwhile, MU's PEG ratio is currently 2.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MU's industry had an average PEG ratio of 2.1 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 241, putting it in the bottom 6% 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.
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Micron (MU) Gains As Market Dips: What You Should Know
In the latest trading session, Micron (MU - Free Report) closed at $46.08, marking a +1.48% move from the previous day. This change outpaced the S&P 500's 0.7% loss on the day. Elsewhere, the Dow lost 0.92%, while the tech-heavy Nasdaq added 0.51%.
Wall Street will be looking for positivity from MU as it approaches its next earnings report date. The company is expected to report EPS of $0.56, down 46.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.91 billion, up 2.61% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $2.11 per share and revenue of $19.96 billion. These results would represent year-over-year changes of -66.77% and -14.73%, respectively.
Investors might also notice recent changes to analyst estimates for MU. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. MU is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note MU's current valuation metrics, including its Forward P/E ratio of 21.51. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 21.51.
Meanwhile, MU's PEG ratio is currently 2.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MU's industry had an average PEG ratio of 2.1 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 241, putting it in the bottom 6% 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.