Here's Why Photronics (PLAB) Fell More Than Broader Market
Photronics (PLAB) ended the recent trading session at $30.86, demonstrating a -1.63% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.57%. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq lost 1.64%.
The electronics imaging company's stock has climbed by 49.67% in the past month, exceeding the Computer and Technology sector's gain of 4.46% and the S&P 500's gain of 4%.
Investors will be eagerly watching for the performance of Photronics in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.49, showcasing a 22.5% upward movement from the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for Photronics. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 15.56% rise in the Zacks Consensus EPS estimate. Photronics presently features a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Photronics is currently being traded at a Forward P/E ratio of 12.06. For comparison, its industry has an average Forward P/E of 13.35, which means Photronics is trading at a discount to the group.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 4, positioning it in the top 2% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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Photronics, Inc. (PLAB) : Free Stock Analysis Report
