Photronics (PLAB) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Photronics (PLAB) closed at $19.63, marking a -0.96% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.9%.
Shares of the electronics imaging company witnessed a loss of 1.98% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.56% and the S&P 500's gain of 1.45%.
Market participants will be closely following the financial results of Photronics in its upcoming release. The company is forecasted to report an EPS of $0.53, showcasing a 11.67% downward movement from the corresponding quarter of the prior year.
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. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Right now, Photronics possesses a Zacks Rank of #3 (Hold).
Investors should also note Photronics's current valuation metrics, including its Forward P/E ratio of 8.81. Its industry sports an average Forward P/E of 11.58, 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. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
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.
To follow PLAB in the coming trading sessions, be sure to utilize Zacks.com.
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Photronics, Inc. (PLAB) : Free Stock Analysis Report
