Micron (MU) closed at $96.54 in the latest trading session, marking a -1.59% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.61%. Elsewhere, the Dow lost 1.91%, while the tech-heavy Nasdaq lost 1.41%.
Heading into today, shares of the chipmaker had gained 39.72% over the past month, outpacing the Computer and Technology sector's gain of 18.62% and the S&P 500's gain of 12.65% in that time.
The upcoming earnings release of Micron will be of great interest to investors. The company is predicted to post an EPS of $1.57, indicating a 153.23% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.81 billion, up 29.33% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.93 per share and revenue of $35.49 billion. These totals would mark changes of +433.08% and +41.34%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Micron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.4% higher. Currently, Micron is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Micron is currently exchanging hands at a Forward P/E ratio of 14.17. This represents a discount compared to its industry's average Forward P/E of 20.77.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 142, placing it within the bottom 43% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Micron Technology, Inc. (MU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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