ASML (ASML) Ascends But Remains Behind Market: Some Facts to Note
In the latest market close, ASML (ASML) reached $974.01, with a +0.28% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.86%. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.51%.
Coming into today, shares of the equipment supplier to semiconductor makers had gained 3.18% in the past month. In that same time, the Computer and Technology sector gained 3.76%, while the S&P 500 gained 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of ASML in its upcoming earnings disclosure. The company's earnings report is set to go public on April 17, 2024. The company is predicted to post an EPS of $2.85, indicating a 46.33% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.73 billion, down 20.88% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $20.48 per share and a revenue of $30.46 billion, signifying shifts of -4.88% and +2.2%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for ASML. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. ASML is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, ASML is presently trading at a Forward P/E ratio of 47.43. This signifies a premium in comparison to the average Forward P/E of 30.52 for its industry.
It's also important to note that ASML currently trades at a PEG ratio of 2.34. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Semiconductor Equipment - Wafer Fabrication industry was having an average PEG ratio of 2.96.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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ASML Holding N.V. (ASML) : Free Stock Analysis Report
