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Micron Technology Q3 Earnings Preview

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Micron Technology (NASDAQ: MU) announces its next round of earnings this Tuesday, June 25. Here's Benzinga's look at Micron Technology's Q3 earnings report.

Earnings and Revenue

Based on management's projections, Micron analysts model for earnings of 83 cents per share on sales of $4.77 billion.

Micron EPS in the same period a year ago totaled $3.15. Revenue was $7.80 billion. The Wall Street estimate would represent a 73.6%  decline in the company's earnings. Revenue would be down 38.8% on a year-over-year basis. Micron's reported EPS has stacked up against analyst estimates in the past like this:

 

Quarter Q2 2019 Q1 2019 Q4 2018 Q3 2018
EPS Estimate 1.67 2.96 3.34 3.11
EPS Actual 1.71 2.97 3.53 3.15

Stock Performance

Shares of Micron were trading at $33.19 as of June 24. Over the last 52-week period, shares are down 41.87%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.

Over the past 90 days, analysts have adjusted their estimates lower for EPS and revenues. Analysts have been rating Micron stock as Neutral. The strength of this rating has maintained conviction over the past three months.

Conference Call

Don't be surprised to see the stock move on comments made during its conference call. Micron is scheduled to hold the call at 4:30 p.m. ET and can be accessed here: https://edge.media-server.com/m6/p/cspw8vrc

Posted-In: Earnings News

 

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