Micron (MU) closed the latest trading day at $94.88, indicating a -0.79% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 0.91%. Meanwhile, the Dow experienced a drop of 1.5%, and the technology-dominated Nasdaq saw a decrease of 1.96%.
Coming into today, shares of the chipmaker had gained 4.32% in the past month. In that same time, the Computer and Technology sector lost 10.57%, while the S&P 500 lost 7.38%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company's earnings report is set to go public on March 20, 2025. The company is expected to report EPS of $1.43, up 240.48% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $7.9 billion, indicating a 35.6% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $6.72 per share and a revenue of $35.22 billion, demonstrating changes of +416.92% and +40.27%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 has moved 3.27% lower. Micron currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Micron is currently trading at a Forward P/E ratio of 14.24. This expresses a premium compared to the average Forward P/E of 14.16 of its industry.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 86, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank is ordered 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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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
