In the latest trading session, Himax Tech (HIMX - Free Report) closed at $3.20, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 2.71%. Meanwhile, the Dow lost 2.91%, and the Nasdaq, a tech-heavy index, lost 2.21%.
Prior to today's trading, shares of the fabless semiconductor company had lost 22.33% over the past month. This has lagged the Computer and Technology sector's loss of 6.7% and the S&P 500's loss of 8.68% in that time.
Wall Street will be looking for positivity from HIMX as it approaches its next earnings report date. This is expected to be February 12, 2019. The company is expected to report EPS of $0.03, down 78.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $190.90 million, up 5.42% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.05 per share and revenue of $723.55 million. These totals would mark changes of -75% and +5.6%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for HIMX. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 20% higher within the past month. HIMX is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, HIMX currently has a Forward P/E ratio of 64. Its industry sports an average Forward P/E of 13.54, so we one might conclude that HIMX is trading at a premium comparatively.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 67, putting it in the top 26% 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 HIMX in the coming trading sessions, be sure to utilize Zacks.com.