Photronics (PLAB) closed at $15.63 in the latest trading session, marking a -1.33% move from the prior day. This change was narrower than the S&P 500's 1.48% loss on the day. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 0.46%.
Coming into today, shares of the electronics imaging company had lost 7.8% in the past month. In that same time, the Computer and Technology sector lost 5.18%, while the S&P 500 gained 0.08%.
Wall Street will be looking for positivity from Photronics as it approaches its next earnings report date. In that report, analysts expect Photronics to post earnings of $0.35 per share. This would mark year-over-year growth of 105.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $192.55 million, up 20.52% from the year-ago period.
PLAB's full-year Zacks Consensus Estimates are calling for earnings of $1.49 per share and revenue of $777.9 million. These results would represent year-over-year changes of +67.42% and +17.2%, respectively.
Investors should also note any recent changes to analyst estimates for Photronics. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Photronics currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Photronics is currently trading at a Forward P/E ratio of 10.61. Its industry sports an average Forward P/E of 12.11, so we one might conclude that Photronics is trading at a discount comparatively.
The Semiconductor Equipment - Photomasks industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 7, putting it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Photronics, Inc. (PLAB): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
