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Micron (MU) Ascends But Remains Behind Market: Some Facts to Note
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Micron (MU - Free Report) ended the recent trading session at $108.63, demonstrating a +0.59% swing from the preceding day's closing price. The stock lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1.39%.
Heading into today, shares of the chipmaker had lost 5.49% over the past month, lagging the Computer and Technology sector's loss of 5.36% and the S&P 500's loss of 1.85% in that time.
Market participants will be closely following the financial results of Micron in its upcoming release. The company is forecasted to report an EPS of $1.08, showcasing a 200.93% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $7.65 billion, up 90.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.16 per share and revenue of $24.93 billion, which would represent changes of +126.07% and +60.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Micron should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Micron is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Micron is holding a Forward P/E ratio of 93.21. For comparison, its industry has an average Forward P/E of 93.21, which means Micron is trading at no noticeable deviation to the group.
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 3, finds itself in the top 2% echelons 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.
To follow MU in the coming trading sessions, be sure to utilize Zacks.com.
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Micron (MU) Ascends But Remains Behind Market: Some Facts to Note
Micron (MU - Free Report) ended the recent trading session at $108.63, demonstrating a +0.59% swing from the preceding day's closing price. The stock lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1.39%.
Heading into today, shares of the chipmaker had lost 5.49% over the past month, lagging the Computer and Technology sector's loss of 5.36% and the S&P 500's loss of 1.85% in that time.
Market participants will be closely following the financial results of Micron in its upcoming release. The company is forecasted to report an EPS of $1.08, showcasing a 200.93% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $7.65 billion, up 90.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.16 per share and revenue of $24.93 billion, which would represent changes of +126.07% and +60.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Micron should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Micron is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Micron is holding a Forward P/E ratio of 93.21. For comparison, its industry has an average Forward P/E of 93.21, which means Micron is trading at no noticeable deviation to the group.
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 3, finds itself in the top 2% echelons 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.
To follow MU in the coming trading sessions, be sure to utilize Zacks.com.