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Micron (MU) Gains But Lags Market: What You Should Know
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Micron (MU - Free Report) closed at $56.56 in the latest trading session, marking a +0.71% move from the prior day. The stock lagged the S&P 500's daily gain of 0.96%. At the same time, the Dow added 1.31%, and the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the chipmaker had gained 6.14% over the past month, outpacing the Computer and Technology sector's loss of 7.82% and the S&P 500's loss of 0.41% in that time.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. On that day, Micron is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 98.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.29 billion, down 44.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.18 per share and revenue of $19.43 billion, which would represent changes of -97.84% and -36.82%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 has moved 146.66% lower. Micron is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Micron is currently trading at a Forward P/E ratio of 312. For comparison, its industry has an average Forward P/E of 312, which means Micron is trading at a no noticeable deviation to the group.
It is also worth noting that MU currently has a PEG ratio of 80.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor Memory was holding an average PEG ratio of 80.83 at yesterday's closing price.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Micron (MU) Gains But Lags Market: What You Should Know
Micron (MU - Free Report) closed at $56.56 in the latest trading session, marking a +0.71% move from the prior day. The stock lagged the S&P 500's daily gain of 0.96%. At the same time, the Dow added 1.31%, and the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the chipmaker had gained 6.14% over the past month, outpacing the Computer and Technology sector's loss of 7.82% and the S&P 500's loss of 0.41% in that time.
Wall Street will be looking for positivity from Micron as it approaches its next earnings report date. On that day, Micron is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 98.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.29 billion, down 44.2% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.18 per share and revenue of $19.43 billion, which would represent changes of -97.84% and -36.82%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 has moved 146.66% lower. Micron is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Micron is currently trading at a Forward P/E ratio of 312. For comparison, its industry has an average Forward P/E of 312, which means Micron is trading at a no noticeable deviation to the group.
It is also worth noting that MU currently has a PEG ratio of 80.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor Memory was holding an average PEG ratio of 80.83 at yesterday's closing price.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.