Axcelis Technologies (ACLS) Advances While Market Declines: Some Information for Investors
In the latest trading session, Axcelis Technologies (ACLS) closed at $120.34, marking a +0.59% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.56% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Shares of the semiconductor services company have depreciated by 12.15% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2%.
The investment community will be paying close attention to the earnings performance of Axcelis Technologies in its upcoming release. The company is slated to reveal its earnings on February 7, 2024. The company's upcoming EPS is projected at $1.98, signifying a 15.79% increase compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for Axcelis Technologies. 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Axcelis Technologies is currently sporting a Zacks Rank of #4 (Sell).
From a valuation perspective, Axcelis Technologies is currently exchanging hands at a Forward P/E ratio of 15.31. This expresses a discount compared to the average Forward P/E of 19.02 of its industry.
One should further note that ACLS currently holds a PEG ratio of 0.94. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Electronics - Manufacturing Machinery was holding an average PEG ratio of 3.15 at yesterday's closing price.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 42% of over 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.
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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Axcelis Technologies, Inc. (ACLS) : Free Stock Analysis Report
