Photronics (PLAB) Dips More Than Broader Markets: What You Should Know
Photronics (PLAB) closed the most recent trading day at $25.85, moving -1.79% from the previous trading session. This move lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the electronics imaging company had gained 11.57% in the past month. In that same time, the Computer and Technology sector gained 3.39%, while the S&P 500 gained 3.39%.
Wall Street will be looking for positivity from Photronics as it approaches its next earnings report date. In that report, analysts expect Photronics to post earnings of $0.52 per share. This would mark year-over-year growth of 1.96%.
Any recent changes to analyst estimates for Photronics should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Photronics currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Photronics is holding a Forward P/E ratio of 13.16. This valuation marks a discount compared to its industry's average Forward P/E of 14.02.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow PLAB in the coming trading sessions, be sure to utilize Zacks.com.
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Photronics, Inc. (PLAB) : Free Stock Analysis Report
