Photronics (PLAB) Stock Slides as Market Rises: Facts to Know Before You Trade

Photronics (PLAB) closed at $28.99 in the latest trading session, marking a -0.41% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.

The the stock of electronics imaging company has risen by 0.07% in the past month, lagging the Computer and Technology sector's gain of 2.68% and the S&P 500's gain of 3.52%.

The investment community will be paying close attention to the earnings performance of Photronics in its upcoming release. 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.

It is also important to note the recent changes to analyst estimates for Photronics. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, there's been a 15.56% rise in the Zacks Consensus EPS estimate. Photronics is currently sporting a Zacks Rank of #1 (Strong Buy).

From a valuation perspective, Photronics is currently exchanging hands at a Forward P/E ratio of 11.2. For comparison, its industry has an average Forward P/E of 13.13, 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 3, finds itself in the top 2% echelons of all 250+ industries.

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.

Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Photronics, Inc. (PLAB) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.