Photronics (PLAB) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Photronics (PLAB) standing at $28.32, reflecting a -1.56% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.11% gain on the day. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.12%.
Heading into today, shares of the electronics imaging company had gained 3.23% over the past month, lagging the Computer and Technology sector's gain of 3.59% and the S&P 500's gain of 3.55% in that time.
The investment community will be closely monitoring the performance of Photronics in its forthcoming earnings report. The company is forecasted to report an EPS of $0.55, showcasing a 1.85% upward movement from the corresponding quarter of the prior year.
Any recent changes to analyst estimates for Photronics should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Photronics is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Photronics has a Forward P/E ratio of 13.38 right now. For comparison, its industry has an average Forward P/E of 15.54, 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 industry currently has a Zacks Industry Rank of 244, which puts it in the bottom 4% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Photronics, Inc. (PLAB) : Free Stock Analysis Report
