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The latest trading session saw TSMC (TSM - Free Report) ending at $187.34, denoting a +1.54% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 0.62%, while the tech-heavy Nasdaq appreciated by 0.63%.
The the stock of chip company has risen by 6.7% in the past month, leading the Computer and Technology sector's gain of 5.73% and the S&P 500's gain of 4.28%.
Analysts and investors alike will be keeping a close eye on the performance of TSMC in its upcoming earnings disclosure. The company's earnings report is set to go public on July 18, 2024. The company is predicted to post an EPS of $1.37, indicating a 20.18% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $20.2 billion, up 28.86% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.16 per share and revenue of $85.12 billion, indicating changes of +18.92% and +22.83%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for TSMC. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.62% higher. TSMC is currently a Zacks Rank #2 (Buy).
In terms of valuation, TSMC is currently trading at a Forward P/E ratio of 29.93. This signifies no noticeable deviation in comparison to the average Forward P/E of 29.93 for its industry.
One should further note that TSM currently holds a PEG ratio of 1.18. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Semiconductor - Circuit Foundry industry was having an average PEG ratio of 1.18.
The Semiconductor - Circuit Foundry industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 3, finds itself in the top 2% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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TSMC (TSM) Rises Higher Than Market: Key Facts
The latest trading session saw TSMC (TSM - Free Report) ending at $187.34, denoting a +1.54% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 0.62%, while the tech-heavy Nasdaq appreciated by 0.63%.
The the stock of chip company has risen by 6.7% in the past month, leading the Computer and Technology sector's gain of 5.73% and the S&P 500's gain of 4.28%.
Analysts and investors alike will be keeping a close eye on the performance of TSMC in its upcoming earnings disclosure. The company's earnings report is set to go public on July 18, 2024. The company is predicted to post an EPS of $1.37, indicating a 20.18% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $20.2 billion, up 28.86% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.16 per share and revenue of $85.12 billion, indicating changes of +18.92% and +22.83%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for TSMC. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.62% higher. TSMC is currently a Zacks Rank #2 (Buy).
In terms of valuation, TSMC is currently trading at a Forward P/E ratio of 29.93. This signifies no noticeable deviation in comparison to the average Forward P/E of 29.93 for its industry.
One should further note that TSM currently holds a PEG ratio of 1.18. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Semiconductor - Circuit Foundry industry was having an average PEG ratio of 1.18.
The Semiconductor - Circuit Foundry industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 3, finds itself in the top 2% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.