In the latest close session, Axcelis Technologies (ACLS) was up +2.81% at $95.72. The stock outpaced the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq increased by 0.26%.
The stock of semiconductor services company has risen by 8.75% in the past month, leading the Computer and Technology sector's loss of 0.85% and the S&P 500's gain of 1.89%.
Investors will be eagerly watching for the performance of Axcelis Technologies in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.12, signifying a 27.27% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $215.3 million, indicating a 14.71% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.43 per share and a revenue of $816.05 million, representing changes of -27.97% and 0%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Axcelis Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Axcelis Technologies presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Axcelis Technologies is at present trading with a Forward P/E ratio of 20.46. This denotes a discount relative to the industry average Forward P/E of 24.7.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 38, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.
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Axcelis Technologies, Inc. (ACLS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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