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Company Update (NASDAQ:MU): Why Analysts Have Such Mixed Emotions on Micron Earnings and Turnaround

[at 24/7 Wall St.] – Micron Technology, Inc. (NASDAQ: MU) is set to launch the unofficial start of earnings season this week when it reports earnings on Thursday. Technically earnings season will not begin for another two … Read more on this. Micron Technology, Inc. (MU) , with a current market cap of $13.68B, opened this morning at $13.33. A quick look at the market, the company’s stock traded between $12.94 and $13.42 and has traded between $9.31 and $20.57 over the past 12 months. Priced at 92.79x this year’s forecasted earnings, MU shares are relatively expensive compared to the industry’s 12.63x forward p/e ratio. Consensus earnings for the current quarter by the 23 sell-side analysts covering the stock is an estimate of $-0.09 per share, which would be $0.54 better than the year-ago quarter and a $0.00 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $0.14, which would be a $2.55 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.95 Billion. If reported, that would be a 23.38% decrease over the year-ago quarter. Recently, Nomura upgraded MU from Reduce to Buy (Jun 23, 2016). Previously, Susquehanna upgraded MU from Neutral to Positive. Investors should keep in mind is that the average price target is $15.00, which is 12.53% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Market Update (NASDAQ:MU): Micron’s stock breaks out after analysts swing to bullish views Company Update: Micron Technology Inc (NASDAQ:MU) – Why Micron Stock Soared 18% in May (MU) Market Update (NASDAQ:MU): Micron’s Q2’16 Earnings Preview: Things To Turnaround In The Latter Part Of The Calendar Year
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