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Micron (MU) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Micron (MU - Free Report) closed at $81.17, marking a -0.98% move from the previous day. This move lagged the S&P 500's daily gain of 0.52%. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq gained 0.37%.
Heading into today, shares of the chipmaker had lost 14.3% over the past month, lagging the Computer and Technology sector's loss of 10.84% and the S&P 500's loss of 6.51% in that time.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. In that report, analysts expect Micron to post earnings of $1.95 per share. This would mark year-over-year growth of 98.98%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.51 billion, up 20.44% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $8.91 per share and revenue of $31.99 billion. These results would represent year-over-year changes of +47.03% and +15.45%, respectively.
Investors might also notice recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Micron currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Micron has a Forward P/E ratio of 9.2 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.2.
Investors should also note that MU has a PEG ratio of 0.38 right now. 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 0.38 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 95, putting it in the top 38% 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 (MU) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Micron (MU - Free Report) closed at $81.17, marking a -0.98% move from the previous day. This move lagged the S&P 500's daily gain of 0.52%. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq gained 0.37%.
Heading into today, shares of the chipmaker had lost 14.3% over the past month, lagging the Computer and Technology sector's loss of 10.84% and the S&P 500's loss of 6.51% in that time.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. In that report, analysts expect Micron to post earnings of $1.95 per share. This would mark year-over-year growth of 98.98%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.51 billion, up 20.44% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of $8.91 per share and revenue of $31.99 billion. These results would represent year-over-year changes of +47.03% and +15.45%, respectively.
Investors might also notice recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Micron currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Micron has a Forward P/E ratio of 9.2 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.2.
Investors should also note that MU has a PEG ratio of 0.38 right now. 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 0.38 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 95, putting it in the top 38% 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.