Axcelis Technologies (ACLS) Stock Declines While Market Improves: Some Information for Investors
The latest trading session saw Axcelis Technologies (ACLS) ending at $132.36, denoting a -0.63% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.04%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.03%.
The semiconductor services company's stock has climbed by 6.43% in the past month, exceeding the Computer and Technology sector's gain of 4.9% and the S&P 500's gain of 5.28%.
The investment community will be paying close attention to the earnings performance of Axcelis Technologies in its upcoming release. On that day, Axcelis Technologies is projected to report earnings of $1.98 per share, which would represent year-over-year growth of 15.79%. In the meantime, our current consensus estimate forecasts the revenue to be $295.2 million, indicating a 10.96% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.25 per share and a revenue of $1.12 billion, indicating changes of +32.78% and +21.25%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Axcelis Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Axcelis Technologies presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Axcelis Technologies is currently being traded at a Forward P/E ratio of 18.37. This represents a discount compared to its industry's average Forward P/E of 22.55.
Meanwhile, ACLS's PEG ratio is currently 1.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Electronics - Manufacturing Machinery industry stood at 3.78 at the close of the market yesterday.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 35% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Axcelis Technologies, Inc. (ACLS) : Free Stock Analysis Report
