Photronics (PLAB) Outpaces Stock Market Gains: What You Should Know
The latest trading session saw Photronics (PLAB) ending at $30.47, denoting a +1.09% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.76%. On the other hand, the Dow registered a gain of 0.59%, and the technology-centric Nasdaq increased by 1.12%.
Shares of the electronics imaging company witnessed a loss of 3.92% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 4.99% and the S&P 500's gain of 2.5%.
Market participants will be closely following the financial results of Photronics in its upcoming release. 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 note any recent changes to analyst estimates for Photronics. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 has remained steady. Photronics is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Photronics is currently trading at a Forward P/E ratio of 11.59. Its industry sports an average Forward P/E of 13.47, so one might conclude that Photronics is trading at a discount comparatively.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 2, placing it within the top 1% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Photronics, Inc. (PLAB) : Free Stock Analysis Report
