Photronics (PLAB) Ascends While Market Falls: Some Facts to Note
Photronics (PLAB) ended the recent trading session at $29.76, demonstrating a +0.64% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.15%. Meanwhile, the Dow experienced a drop of 0.42%, and the technology-dominated Nasdaq saw an increase of 0.09%.
Shares of the electronics imaging company witnessed a gain of 35.58% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.19% and the S&P 500's gain of 3.5%.
Analysts and investors alike will be keeping a close eye on the performance of Photronics in its upcoming earnings disclosure. On that day, Photronics is projected to report earnings of $0.49 per share, which would represent year-over-year growth of 22.5%.
Investors should also note any recent changes to analyst estimates for Photronics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 15.56% higher. Photronics is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Photronics currently has a Forward P/E ratio of 11.37. This signifies a discount in comparison to the average Forward P/E of 13.01 for its industry.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Photronics, Inc. (PLAB) : Free Stock Analysis Report
