Photronics (PLAB) Outpaces Stock Market Gains: What You Should Know
Photronics (PLAB) closed the most recent trading day at $33.84, moving +1.93% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.58% for the day. At the same time, the Dow added 0.91%, and the tech-heavy Nasdaq gained 0.3%.
The electronics imaging company's stock has climbed by 16.08% in the past month, exceeding the Computer and Technology sector's gain of 8.43% and the S&P 500's gain of 4.61%.
The upcoming earnings release of Photronics will be of great interest to investors. The company's earnings report is expected on February 21, 2024. The company's upcoming EPS is projected at $0.49, signifying a 22.5% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Photronics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Photronics boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Photronics is currently being traded at a Forward P/E ratio of 12.77. This indicates a discount in contrast to its industry's Forward P/E of 14.07.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
