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Micron (MU) Outpaces Stock Market Gains: What You Should Know
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Micron (MU - Free Report) closed the most recent trading day at $55.75, moving +1.35% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.22%.
Coming into today, shares of the chipmaker had lost 19.09% in the past month. In that same time, the Computer and Technology sector lost 9.55%, while the S&P 500 lost 10.02%.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. This is expected to be June 30, 2022. In that report, analysts expect Micron to post earnings of $2.45 per share. This would mark year-over-year growth of 30.32%. Our most recent consensus estimate is calling for quarterly revenue of $8.69 billion, up 17.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.54 per share and revenue of $33.55 billion. These totals would mark changes of +57.43% and +21.1%, respectively, from last year.
Any recent changes to analyst estimates for Micron should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.02% lower. Micron is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Micron currently has a Forward P/E ratio of 5.84. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 5.84.
Investors should also note that MU has a PEG ratio of 0.18 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. MU's industry had an average PEG ratio of 0.18 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 246, putting it in the bottom 3% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Micron (MU) Outpaces Stock Market Gains: What You Should Know
Micron (MU - Free Report) closed the most recent trading day at $55.75, moving +1.35% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.22%.
Coming into today, shares of the chipmaker had lost 19.09% in the past month. In that same time, the Computer and Technology sector lost 9.55%, while the S&P 500 lost 10.02%.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. This is expected to be June 30, 2022. In that report, analysts expect Micron to post earnings of $2.45 per share. This would mark year-over-year growth of 30.32%. Our most recent consensus estimate is calling for quarterly revenue of $8.69 billion, up 17.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.54 per share and revenue of $33.55 billion. These totals would mark changes of +57.43% and +21.1%, respectively, from last year.
Any recent changes to analyst estimates for Micron should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.02% lower. Micron is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Micron currently has a Forward P/E ratio of 5.84. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 5.84.
Investors should also note that MU has a PEG ratio of 0.18 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. MU's industry had an average PEG ratio of 0.18 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 246, putting it in the bottom 3% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.