Photronics (PLAB) Increases Yet Falls Behind Market: What Investors Need to Know
Photronics (PLAB) closed at $32.43 in the latest trading session, marking a +0.12% move from the prior day. This change lagged the S&P 500's 0.14% gain on the day. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.16%.
The electronics imaging company's shares have seen an increase of 53.36% over the last month, surpassing the Computer and Technology sector's gain of 4.87% and the S&P 500's gain of 4.89%.
Analysts and investors alike will be keeping a close eye on the performance of Photronics in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.49, marking a 22.5% rise compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Photronics. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 15.56% higher within the past month. Photronics currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Photronics is currently trading at a Forward P/E ratio of 12.46. This signifies a discount in comparison to the average Forward P/E of 13.64 for its industry.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Photronics, Inc. (PLAB) : Free Stock Analysis Report
