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Micron (MU) closed at $ 44.17 during the last trading session, marking a -0.14% change from the previous day. This change was lower than the 0.83% gain recorded by the S & P 500 that day. At the same time, the Dow gained 0.93% and the Nasdaq, a major technology index, 0.9%.
Prior to trading today, the chip maker 's shares had lost 5.79% in the last month. This lagged behind the 2.06% loss in IT and Technology and the 2.38% loss of the S & P 500 during this period.
Wall Street will look for the positivity of MU, with the approach of the next date of publication of its results. That day, MU is expected to record a profit of 0.46 USD per share, which would represent a drop of one year on the other of 86.97%. At the same time, Zacks' estimated consensus revenue forecasts net sales of $ 4.50 billion, down 46.69% from the same period last year.
According to our consensus estimates for Zacks, analysts expect an annual profit of $ 6.22 per share and a turnover of $ 23.04 billion. These totals would mark changes of -47.95% and -24.2%, respectively, compared to last year.
Investors may also notice recent changes in analyst estimates for MU. These revisions generally reflect the latest short-term business trends, which can change frequently. Thus, positive estimates revisions reflect analysts' optimism about the company's operations and profitability.
Research indicates that these revisions of estimates are directly correlated to short-term stock price dynamics. To take advantage of this, we have developed the Zacks Rank, an exclusive model that takes into account these changes in estimates and provides a usable scoring system.
The Zacks ranking system, which ranges from # 1 (strong buy) to # 5 (strong sell), has an impressive history of unaudited outperformance, with # 1 stocks generating an average annual return of + 25% since 1988. In the past 30 days, our EPS consensus projection stagnated. MU currently has a Zack ranking of # 3 (pending).
While digging into its valuation, MU currently has a forecast price / earnings ratio of 7.11. This represents a non-noticeable deviation from the Forward Forward average of its 7.11 industry.
The semiconductor memory sector is part of the Computer and Technology sector. This group has a ranking of 112 on the Zacks industry, which places it in the top 44% of 250 industries and more.
The Zacks Industry Ranking measures the strength of our industry groups by measuring the average Zacks ranking of individual actions within groups. Our research shows that the 50% of the top rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to use Zacks. Com to follow all these stock transfer measures, and more, in the next trading sessions.
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Do you want to know the latest Zacks Investment Research recommendations? Today, you can download 7 best actions for the next 30 days. Click to get this free report
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Micron Technology, Inc. (MU): Free Stock Analysis Report
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Do you want to know the latest Zacks Investment Research recommendations? Today, you can download 7 best actions for the next 30 days. Click to get this free report
Micron Technology, Inc. (MU): Free Stock Analysis Report
To read this article on Zacks.com, click here.
Zacks Investment Research
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