Photronics (PLAB) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, Photronics (PLAB) closed at $32.06, marking a -0.19% move from the previous day. This move lagged the S&P 500's daily gain of 0.29%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.43%.
Prior to today's trading, shares of the electronics imaging company had gained 2.75% over the past month. This has lagged the Computer and Technology sector's gain of 3.67% and outpaced the S&P 500's gain of 2.08% in that time.
The upcoming earnings release of Photronics will be of great interest to investors. It is anticipated that the company will report an EPS of $0.49, marking a 22.5% rise compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Photronics. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Photronics presently features a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Photronics is currently being traded at a Forward P/E ratio of 12.35. For comparison, its industry has an average Forward P/E of 13.89, 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 bearing a Zacks Industry Rank of 2, finds itself in the top 1% echelons 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
