Analysts on Wall Street project that Micron (MU) will announce quarterly loss of $1 per share in its forthcoming report, representing a decline of 2400% year over year. Revenues are projected to reach $4.6 billion, increasing 12.6% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 16.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts’ collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts’ projections for specific key metrics can offer valuable insights.
In light of this perspective, let’s dive into the average estimates of certain Micron metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus among analysts is that ‘Revenue by Technology- DRAM’ will reach $3.22 billion. The estimate suggests a change of +14% year over year.
Analysts expect ‘Revenue by Technology- Other (primarily NOR)’ to come in at $62.58 million. The estimate suggests a change of -59.1% year over year.
It is projected by analysts that the ‘Revenue by Technology- NAND’ will reach $1.22 billion. The estimate indicates a year-over-year change of +10.7%.
View all Key Company Metrics for Micron here>>>
Shares of Micron have demonstrated returns of +7.2% over the past month compared to the Zacks S&P 500 composite’s +5.2% change. With a Zacks Rank #3 (Hold), MU is expected to mirror the overall market performance in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
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