Axcelis Technologies (ACLS) Exceeds Market Returns: Some Facts to Consider
Axcelis Technologies (ACLS) closed at $139.33 in the latest trading session, marking a +1.05% move from the prior day. This move outpaced the S&P 500's daily gain of 0.29%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.43%.
Coming into today, shares of the semiconductor services company had gained 3.34% in the past month. In that same time, the Computer and Technology sector gained 3.67%, while the S&P 500 gained 2.08%.
Investors will be eagerly watching for the performance of Axcelis Technologies in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 7, 2024. The company's earnings per share (EPS) are projected to be $1.98, reflecting a 15.79% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $295.1 million, up 10.92% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Axcelis Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 1.66% lower. Right now, Axcelis Technologies possesses a Zacks Rank of #4 (Sell).
Looking at valuation, Axcelis Technologies is presently trading at a Forward P/E ratio of 17.95. This denotes a discount relative to the industry's average Forward P/E of 20.81.
It's also important to note that ACLS currently trades at a PEG ratio of 1.1. 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 industry had an average PEG ratio of 3.39 as trading concluded yesterday.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 83, placing it within the top 33% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Axcelis Technologies, Inc. (ACLS) : Free Stock Analysis Report
