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Photronics (PLAB) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Photronics (PLAB) closed at $15.04, marking a +1.35% move from the previous day. This move outpaced the S&P 500's daily gain of 0.25%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 0.54%.

Prior to today's trading, shares of the electronics imaging company had lost 1.4% over the past month. This has was narrower than the Computer and Technology sector's loss of 13.61% and the S&P 500's loss of 11.03% in that time.

Photronics will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.35, up 105.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $192.55 million, up 20.52% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.49 per share and revenue of $777.9 million, which would represent changes of +67.42% and +17.2%, respectively, from the prior year.

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It is also important to note the recent changes to analyst estimates for Photronics. 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. Photronics is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Photronics is holding a Forward P/E ratio of 9.94. This represents a discount compared to its industry's average Forward P/E of 11.39.

The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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