Market Update (NASDAQ:MU): Micron’s Q2’16 Earnings Preview: Things To Turnaround In The Latter Part Of The Calendar Year

[at Forbes] – Weak macroeconomic conditions and the persisting weakness in PC demand, coupled with Micron Technology’s lagging DRAM and NAND output, have impacted the company’s growth rate in the last few months. The company will report its Q2 2016 earnings on March 30th and the quarter will not offer much respite for Read more on this. Micron Technology, Inc. (MU) , valued at $10.77B, opened this morning at $10.50. Looking at the equity, the company’s one day range is $10.25 to $10.59 with a one year range of $9.31 to $29.78. MU shares are currently priced at 28.38x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 3.69x earnings multiple for the same period. According to a consensus of 21 analysts, the earnings estimate of $-0.08 per share would be $0.81 better than the year-ago quarter and a $0.00 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $0.37, which would be a $2.32 setback when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.05 Billion. If realized, that would be a 26.86% decrease over the year-ago quarter. More recently, Susquehanna downgraded MU from Positive to Neutral (Mar 18, 2016). Previously, Nomura downgraded MU from Neutral to Reduce. The average price target for MU shares is $15.57, which is 48.29% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Market Update (NASDAQ:MU): Micron’s Q1’16 Earnings Review: Things Could Turn Around In The Second Half Of The Year Stock Update (NASDAQ:MU): Jim Cramer — Micron Earnings Show How Not to Run a Business Company Update (NASDAQ:MU): Why 2 Analysts Endorsed Micron Right Before Its Earnings Report