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In the latest trading session, GlobalFoundries Inc. (GFS) closed at $44.86, marking a -1.25% move from the previous day. This move lagged the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.22%.
Prior to today's trading, shares of the company had lost 18.44% over the past month. This has lagged the Computer and Technology sector's loss of 9.55% and the S&P 500's loss of 10.02% in that time.
Investors will be hoping for strength from GlobalFoundries Inc. as it approaches its next earnings release.
GFS's full-year Zacks Consensus Estimates are calling for earnings of $2.30 per share and revenue of $7.96 billion. These results would represent year-over-year changes of +4700% and +20.89%, respectively.
It is also important to note the recent changes to analyst estimates for GlobalFoundries Inc.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 shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. GlobalFoundries Inc. currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, GlobalFoundries Inc. is holding a Forward P/E ratio of 19.5. For comparison, its industry has an average Forward P/E of 14.33, which means GlobalFoundries Inc. is trading at a premium to the group.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.