Analysts on Wall Street project that Micron (MU) will announce quarterly earnings of $1.57 per share in its forthcoming report, representing an increase of 153.2% year over year. Revenues are projected to reach $8.81 billion, increasing 29.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Micron metrics that are routinely monitored and predicted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenue by Technology- DRAM' of $7.00 billion. The estimate indicates a change of +49.2% from the prior-year quarter.
Analysts' assessment points toward 'Revenue by Technology- Other (primarily NOR)' reaching $81.13 million. The estimate indicates a change of +50.2% from the prior-year quarter.
It is projected by analysts that the 'Revenue by Technology- NAND' will reach $1.74 billion. The estimate points to a change of -15.6% from the year-ago quarter.
View all Key Company Metrics for Micron here>>>
Over the past month, shares of Micron have returned +27.1% versus the Zacks S&P 500 composite's +0.6% change. Currently, MU carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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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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