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United Microelectronics Corporation (UMC) Dips More Than Broader Markets: What You Should Know
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United Microelectronics Corporation (UMC - Free Report) closed at $9.52 in the latest trading session, marking a -0.83% move from the prior day. This change lagged the S&P 500's 0.53% loss on the day. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the company had lost 1.94% over the past month. This has was narrower than the Computer and Technology sector's loss of 6.75% and the S&P 500's loss of 4.24% in that time.
Investors will be hoping for strength from United Microelectronics Corporation as it approaches its next earnings release. In that report, analysts expect United Microelectronics Corporation to post earnings of $0.26 per share. This would mark year-over-year growth of 73.33%. Meanwhile, our latest consensus estimate is calling for revenue of $2.23 billion, up 35.11% from the prior-year quarter.
UMC's full-year Zacks Consensus Estimates are calling for earnings of $1.08 per share and revenue of $9.17 billion. These results would represent year-over-year changes of +30.12% and +20.37%, respectively.
It is also important to note the recent changes to analyst estimates for United Microelectronics Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. United Microelectronics Corporation is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, United Microelectronics Corporation is currently trading at a Forward P/E ratio of 8.89. Its industry sports an average Forward P/E of 19.94, so we one might conclude that United Microelectronics Corporation is trading at a discount comparatively.
It is also worth noting that UMC currently has a PEG ratio of 0.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UMC in the coming trading sessions, be sure to utilize Zacks.com.
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United Microelectronics Corporation (UMC) Dips More Than Broader Markets: What You Should Know
United Microelectronics Corporation (UMC - Free Report) closed at $9.52 in the latest trading session, marking a -0.83% move from the prior day. This change lagged the S&P 500's 0.53% loss on the day. At the same time, the Dow lost 0.29%, and the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the company had lost 1.94% over the past month. This has was narrower than the Computer and Technology sector's loss of 6.75% and the S&P 500's loss of 4.24% in that time.
Investors will be hoping for strength from United Microelectronics Corporation as it approaches its next earnings release. In that report, analysts expect United Microelectronics Corporation to post earnings of $0.26 per share. This would mark year-over-year growth of 73.33%. Meanwhile, our latest consensus estimate is calling for revenue of $2.23 billion, up 35.11% from the prior-year quarter.
UMC's full-year Zacks Consensus Estimates are calling for earnings of $1.08 per share and revenue of $9.17 billion. These results would represent year-over-year changes of +30.12% and +20.37%, respectively.
It is also important to note the recent changes to analyst estimates for United Microelectronics Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. United Microelectronics Corporation is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, United Microelectronics Corporation is currently trading at a Forward P/E ratio of 8.89. Its industry sports an average Forward P/E of 19.94, so we one might conclude that United Microelectronics Corporation is trading at a discount comparatively.
It is also worth noting that UMC currently has a PEG ratio of 0.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UMC in the coming trading sessions, be sure to utilize Zacks.com.