Earnings Preview: How will United Microelectronics Corporation [UMC] deliver its quarterly results?

Earnings from United Microelectronics Corporation [UMC] are scheduled on April 28, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Dec 2020.


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UMC Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $0.06 per share on revenue of $1.57B. Taking a look at the future, the company is projected to report revenue of $1.68B at an earnings per share of $0.1 for the Mar 2021 quarter. The estimates represent year-over-year improvements of 19.60% in revenue and 60.32% in earnings per share for the company.

UMC Stock Earnings Forecast For The Current Year

For the full financial year, United Microelectronics Corporation [NYSE:UMC] is forecasted to generate revenue of $6.01B. The figure is about $1.21 billion above what the company actually reported for the fiscal year 2019. In terms of EPS, it is estimated to be $0.31 in 2020, which is $0.18 higher than the figure in FY19. Based on current estimates, earnings are expected to grow 138.50% this year, 61.30% next year, and 22.40% annually over the next five years. With regard to sales, forecasts suggest an incline of 25.20% in current fiscal year and 19.60% over following year.

UMC Stock Price Performance

At the close of Tuesday’s session, United Microelectronics Corporation [NYSE:UMC] finished down -3.31% at $10.82. The stock’s highest single-day price was $10.97, and its lowest was $10.70. Its price rose 14.38% in the last five days. Since the beginning of the year, United Microelectronics Corporation’s shares are up nearly 28.35%. However, the share price is -4.08% below its one year high. The top price reached by the shares of the company was $11.28 on 02/16/21, while the 52-week low came on 01/04/21, when the shares were $7.85. In the past year, shares of the company have risen 314.56%. At 50 days, the moving average achieved is $9.27 while at 200 days, the moving average is $6.86. There were 6.52 million shares traded in the last session, up from 6.49 million in the previous session.

United Microelectronics Corporation [NYSE:UMC] Stock Valuation Metrics

With a prevailing 12-month PE ratio of 25.64, United Microelectronics Corporation [UMC] does qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a discount to the industry average of 33.73 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 3.92 PS value ratio is reported for the last one year of reported earnings. This is above the average return 3.14 for the industry, which means UMC offers an unattractive investment opportunity than its competitors do.

UMC Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 10.82 level, and the violation of this level will cause a further drop to 10.69 level. At the upper end, 11.23 remains a key resistance. As the stock increases, it may find resistance at 11.10. In the 14-day chart, the Relative Strength Index standing at 68.03 suggests a technical neutral stance while the MACD standing at 1.12 indicates price will increase in the next trading period. Stochastic %K at 91.91% suggests selling the stock while Percent R indicator at 20.09% suggests bullish price movement.

How much is the short interest in United Microelectronics Corporation?

There have been a drop in short interest in the United Microelectronics Corporation Financial stock, with short interest down by -3.84 million shares to 15.1 million shares on Mar 14, 2021. According to data provided by Yahoo Finance, the short interest on Apr 14, 2021 stood at 11.26 million shares. This 25.43% increase suggests some bearish sentiment was experienced by the stock.

How do analysts view United Microelectronics Corporation?

In regard to the share price forecast for United Microelectronics Corporation stock, the analysts, as surveyed by FactSet, forecast the price to reach $11.26 in the next twelve months, representing almost an 3.91% growth from its recent price of $10.82. Among United Microelectronics Corporation stock projections, $13.42 is the highest analyst target for the stock, while $5.89 is the lowest. Despite this, 25 analysts who share their consensus rating for UMC in 2021 agree that the stock is an Overweight. The latest rating change took place on 2/05/20, when China Renaissance Ratings upgraded the stock from “Hold” to “Buy.”

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