Photronics (PLAB) Registers a Bigger Fall Than the Market: Important Facts to Note
The latest trading session saw Photronics (PLAB) ending at $20.96, denoting a -1.09% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.54%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq decreased by 0.84%.
The electronics imaging company's shares have seen an increase of 6.91% over the last month, not keeping up with the Computer and Technology sector's gain of 10.06% and the S&P 500's gain of 8.62%.
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 $0.53 per share, which would represent a year-over-year decline of 11.67%.
It's also important for investors to be aware of any recent modifications to analyst estimates for Photronics. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Photronics is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Photronics is currently exchanging hands at a Forward P/E ratio of 9.42. For comparison, its industry has an average Forward P/E of 12.1, which means Photronics is trading at a discount to the group.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Photronics, Inc. (PLAB) : Free Stock Analysis Report
