Micron Technology Inc. (MU, Financial) – the U.S. global producer and provider of high-performance memory technologies – will release its financial results for the fourth quarter of fiscal 2017 after market close Sept. 26.
For the fourth quarter of fiscal 2017, analysts forecast Micron Technology will report a non-GAAP EPS – on a diluted basis – of $1.84.
This is an average of 24 estimates of analysts who were surveyed and represents a hefty improvement from the comparable quarter of fiscal 2016 when the tech company closed with a loss of 5 cents per share.
Source: Yahoo Finance
Estimates on fourth-quarter earnings range between a low of $1.73 and a high of $1.9. Analysts forecast that earnings will be backed on revenue coming in at $5.96 billion. This is also an average figure for the fourth quarter of fiscal 2017 and is 85.20% higher than the same quarter of one year ago.
Source: Yahoo Finance
Analysts’ estimates on quarterly revenue range between a low of $5.81 billion and a high of $6.1 billion.
With the earnings announcement report for fiscal fourth quarter, Micron Technology will also provide its shareholders with an update of its balance sheet, which most relevant figures were, as of the most recent quarter, as follow: approximately $4.33 billion in cash on hand and securities of $3.9 per share and about $11.67 billion in total debt for a total debt-equity ratio of 68.58%. The balance sheet of Micron Technology is less leveraged than that one of its peers since the industry has a total debt-equity ratio of 115.24%.
As of June 1 Micron Technology has total current assets and liabilities valued $11.023 billion and $5.143 billion for a current ratio of 2.14. This means that compared to its industry that has a current ratio of 1.29, Micron Technology can meet its short-term obligations much easier than its peers with prompt liquidity and other short-term cash conversion cycle assets.
GuruFocus gives Micron Technology a financial strength rating of 6 out of a total of 10.
Micron Technology’s market value per share grew nearly 105% over the last four fiscal years even though the company’s operating and net margins have declined over the same span of time as you can see in the chart below where figures on the last four fiscal years' revenue, operating and net income are also represented.
GuruFocus gives Micron Technology a profitability and growth rating of 7 out of 10.
For full fiscal 2017, analysts forecast an EPS of $4.73 and a forward P/E ratio of 5.89, for a combined value of $27.86 per share. In addition, for the full fiscal 2017 – full fiscal 2018 period, analysts forecast a 36.60% growth in Micron Technology’s earnings.
For Micron Technology, the analysts’ average target price per share is $44.69 which represents a nearly 24% likelihood of upsides in the market value of this tech stock. The recommendation rating is 1.8 out of 5.
Micron Technology is trading at $36.07 per share with a market capitalization of $40.04 billion, a price-book (P/B) ratio of 2.48, a price-earnings (P/E) ratio of 16.70, a price-sales (P/S) ratio of 2.33 and an EV-EBITDA ratio of 7.11. The tech-stock is currently trading about 50 cents below the 52-week high of $36.60 per share. The 52-week low is $16.70 per share.
Disclosure: I have no position in Micron Technology.
