In the latest trading session, Photronics (PLAB) closed at $24.14, marking a -0.37% move from the previous day. This move lagged the S&P 500's daily loss of 0.12%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.4%.
Coming into today, shares of the electronics imaging company had gained 29.3% in the past month. In that same time, the Computer and Technology sector gained 10.34%, while the S&P 500 gained 8.25%.
Investors will be hoping for strength from Photronics as it approaches its next earnings release. The company is expected to report EPS of $0.50, up 127.27% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $210 million, up 23.07% from the prior-year quarter.
PLAB's full-year Zacks Consensus Estimates are calling for earnings of $1.90 per share and revenue of $818.65 million. These results would represent year-over-year changes of +113.48% and +23.34%, respectively.
Investors should also note any recent changes to analyst estimates for Photronics. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Photronics is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Photronics currently has a Forward P/E ratio of 12.75. This represents a discount compared to its industry's average Forward P/E of 13.69.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% 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.
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