Micron Shares Drop 2.8% as Analysts Forecast $8.40 EPS on $18.71B Revenue
Micron shares fell 2.84% as the S&P 500 gained 0.47% and Nasdaq rose 0.9%, following a 14.37% rally that outpaced its sector's 1.96% loss. Analysts expect next-quarter EPS of $8.40, up 438%, on revenue of $18.71 billion, a 132% year-over-year increase.
1. Stock Performance
Micron shares fell 2.84% while the S&P 500 gained 0.47% and the Nasdaq climbed 0.9%. Before the pullback, shares had rallied 14.37%, outpacing its sector's 1.96% loss and the S&P 500's 0.16% decline.
2. Earnings Outlook
Analysts forecast next-quarter EPS of $8.40, a 438% year-over-year increase, on revenue of $18.71 billion, up 132%. Full-year estimates call for EPS of $32.90, rising 297%, and revenue of $73.3 billion, up 96%.
3. Valuation Metrics
The stock trades at a forward P/E of 12, less than half the 23.92 average of its industry. The Computer-Integrated Systems industry ranks in the top 12% of sectors based on aggregate stock ratings.
4. Analyst Sentiment
The consensus EPS estimate has risen 0.31% over the past 30 days, contributing to a Zacks Rank #1 (Strong Buy). Stocks with this ranking have historically outperformed broader market averages.