Photronics (PLAB) closed at $23.28 in the latest trading session, marking a +1.53% move from the prior day. This change outpaced the S&P 500's 0.22% loss on the day. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the electronics imaging company had gained 5.23% in the past month. In that same time, the Computer and Technology sector gained 4.4%, while the S&P 500 gained 4.59%.
Photronics will be looking to display strength as it nears its next earnings release, which is expected to be August 30, 2022. In that report, analysts expect Photronics to post earnings of $0.50 per share. This would mark year-over-year growth of 127.27%. Our most recent consensus estimate is calling for quarterly revenue of $210 million, up 23.07% from the year-ago period.
PLAB's full-year Zacks Consensus Estimates are calling for earnings of $1.89 per share and revenue of $818.65 million. These results would represent year-over-year changes of +112.36% and +23.34%, respectively.
Any recent changes to analyst estimates for Photronics should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.7% lower. Photronics currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Photronics has a Forward P/E ratio of 12.15 right now. This represents a discount compared to its industry's average Forward P/E of 12.98.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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