In the latest market close, Photronics (PLAB) reached $30.53, with a -0.84% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.82%. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.95%.
Shares of the electronics imaging company have appreciated by 3.46% over the course of the past month, underperforming the Computer and Technology sector's gain of 10.9% and the S&P 500's gain of 5.59%.
The investment community will be closely monitoring the performance of Photronics in its forthcoming earnings report. The company's upcoming EPS is projected at $0.49, signifying a 22.5% increase compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Photronics should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Photronics is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Photronics has a Forward P/E ratio of 11.84 right now. This indicates a discount in contrast to its industry's Forward P/E of 14.01.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 3, this industry ranks in the top 2% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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