The latest trading session saw ASML (ASML) ending at $743.09, denoting a -0.23% adjustment from its last day's close. This change was narrower than the S&P 500's 0.43% loss on the day. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.47%.
Heading into today, shares of the equipment supplier to semiconductor makers had lost 2.86% over the past month, lagging the Computer and Technology sector's gain of 0.32% and the S&P 500's gain of 2.6% in that time.
Market participants will be closely following the financial results of ASML in its upcoming release. The company is predicted to post an EPS of $6.02, indicating a 78.11% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.08 billion, indicating a 40.65% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $25.17 per share and a revenue of $34.34 billion, representing changes of +20.89% and +12.41%, respectively, from the prior year.
Any recent changes to analyst estimates for ASML should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.11% lower within the past month. As of now, ASML holds a Zacks Rank of #3 (Hold).
Investors should also note ASML's current valuation metrics, including its Forward P/E ratio of 29.59. This represents a premium compared to its industry's average Forward P/E of 28.77.
Also, we should mention that ASML has a PEG ratio of 1.64. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor Equipment - Wafer Fabrication industry currently had an average PEG ratio of 1.39 as of yesterday's close.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>ASML Holding N.V. (ASML) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
