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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 $8.43 in the latest trading session, marking a -1.98% move from the prior day. This change lagged the S&P 500's 0.27% loss on the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had lost 5.91% over the past month, lagging the Computer and Technology sector's gain of 7.53% and the S&P 500's gain of 7.36% in that time.
Wall Street will be looking for positivity from United Microelectronics Corporation as it approaches its next earnings report date. On that day, United Microelectronics Corporation is projected to report earnings of $0.26 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.12 per share and revenue of $9.17 billion, which would represent changes of +34.94% and +20.37%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for United Microelectronics Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 3.7% higher. United Microelectronics Corporation is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, United Microelectronics Corporation currently has a Forward P/E ratio of 7.68. Its industry sports an average Forward P/E of 18.41, so we one might conclude that United Microelectronics Corporation is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on 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 $8.43 in the latest trading session, marking a -1.98% move from the prior day. This change lagged the S&P 500's 0.27% loss on the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had lost 5.91% over the past month, lagging the Computer and Technology sector's gain of 7.53% and the S&P 500's gain of 7.36% in that time.
Wall Street will be looking for positivity from United Microelectronics Corporation as it approaches its next earnings report date. On that day, United Microelectronics Corporation is projected to report earnings of $0.26 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.12 per share and revenue of $9.17 billion, which would represent changes of +34.94% and +20.37%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for United Microelectronics Corporation. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 3.7% higher. United Microelectronics Corporation is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, United Microelectronics Corporation currently has a Forward P/E ratio of 7.68. Its industry sports an average Forward P/E of 18.41, so we one might conclude that United Microelectronics Corporation is trading at a discount comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.