In the latest trading session, United Microelectronics Corporation (UMC) closed at $6.55, marking a -1.21% move from the previous day. This move lagged the S&P 500's daily gain of 0.3%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the company had lost 1.19% over the past month. This has was narrower than the Computer and Technology sector's loss of 5.16% and the S&P 500's loss of 4.13% 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 $0.35 per share, which would represent year-over-year growth of 34.62%. Our most recent consensus estimate is calling for quarterly revenue of $2.56 billion, up 27.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.22 per share and revenue of $9.81 billion, which would represent changes of +46.99% and +28.75%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for United Microelectronics Corporation. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. United Microelectronics Corporation currently has a Zacks Rank of #4 (Sell).
Investors should also note United Microelectronics Corporation's current valuation metrics, including its Forward P/E ratio of 5.43. For comparison, its industry has an average Forward P/E of 14.72, which means United Microelectronics Corporation is trading at a discount to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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