This story originally appeared on Zacks
In the latest trading session, Micron (MU) closed at $ 89.76, marking a -1.38% move from the previous day. This change was narrower than the S&P 500’s daily loss of 1.9%. Elsewhere, the Dow lost 1.43%, while the tech-heavy Nasdaq added 0.06%.
Coming into today, shares of the chipmaker had lost 4.81% in the past month. In that same time, the Computer and Technology sector lost 4.42%, while the S&P 500 lost 3.39%.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. The company is expected to report EPS of $ 1.95, up 98.98% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $ 7.51 billion, up 20.44% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $ 8.91 per share and revenue of $ 31.99 billion, which would represent changes of + 47.03% and + 15.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Micron should also be noted by investors. 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.
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 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 remained stagnant. Micron is currently a Zacks Rank # 3 (Hold).
Looking at its valuation, Micron is holding a Forward P / E ratio of 10.21. This represents a no noticeable deviation compared to its industry’s average Forward P / E of 10.21.
We can also see that MU currently has a PEG ratio of 0.42. 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. The Semiconductor Memory industry currently had an average PEG ratio of 0.42 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 101, which puts it in the top 40% 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.
To follow MU in the coming trading sessions, be sure to utilize Zacks.com.
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Micron Technology, Inc. (MU): Free Stock Analysis Report
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