Micron (MU) closed at $48.97 in the latest trading session, marking a -0.12% move from the prior day. This change lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.17%.
Heading into today, shares of the chipmaker had gained 15.01% over the past month, outpacing the Computer and Technology sector's gain of 5.65% and the S&P 500's gain of 4.92% in that time.
MU will be looking to display strength as it nears its next earnings release, which is expected to be September 26, 2019. The company is expected to report EPS of $0.46, down 86.97% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.51 billion, down 46.51% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for MU. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MU is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, MU is currently trading at a Forward P/E ratio of 19.6. For comparison, its industry has an average Forward P/E of 19.6, which means MU is trading at a no noticeable deviation to the group.
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Micron Technology, Inc. (MU) : Free Stock Analysis Report
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