Axcelis Technologies (ACLS) Stock Moves -0.27%: What You Should Know

In the latest market close, Axcelis Technologies (ACLS) reached $104.33, with a -0.27% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.2%. On the other hand, the Dow registered a loss of 0.65%, and the technology-centric Nasdaq decreased by 1.79%.

Prior to today's trading, shares of the semiconductor services company had lost 2.79% over the past month. This has lagged the Computer and Technology sector's loss of 0.51% and the S&P 500's loss of 0.85% in that time.

Market participants will be closely following the financial results of Axcelis Technologies in its upcoming release. The company plans to announce its earnings on May 1, 2024. On that day, Axcelis Technologies is projected to report earnings of $1.26 per share, which would represent a year-over-year decline of 11.89%. In the meantime, our current consensus estimate forecasts the revenue to be $242.55 million, indicating a 4.52% decline compared to the corresponding quarter of the prior year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.88 per share and revenue of $1.12 billion. These totals would mark changes of -7.4% and -0.69%, respectively, from last year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Axcelis Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Axcelis Technologies possesses a Zacks Rank of #5 (Strong Sell).

With respect to valuation, Axcelis Technologies is currently being traded at a Forward P/E ratio of 15.22. This signifies a discount in comparison to the average Forward P/E of 27.03 for its industry.

One should further note that ACLS currently holds a PEG ratio of 2.23. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Electronics - Manufacturing Machinery industry stood at 3.13 at the close of the market yesterday.

The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 194, this industry ranks in the bottom 24% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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