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Why the Market Dipped But Axcelis Technologies (ACLS) Gained Today
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The most recent trading session ended with Axcelis Technologies (ACLS - Free Report) standing at $144.65, reflecting a +0.04% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.27%.
Coming into today, shares of the semiconductor services company had lost 7.5% in the past month. In that same time, the Computer and Technology sector lost 2.16%, while the S&P 500 lost 3.95%.
The upcoming earnings release of Axcelis Technologies will be of great interest to investors. The company's earnings report is expected on November 1, 2023. The company's upcoming EPS is projected at $1.73, signifying a 42.98% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $281.3 million, up 22.74% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.01 per share and a revenue of $1.1 billion, representing changes of +28.39% and +19.65%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Axcelis Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Axcelis Technologies is currently a Zacks Rank #3 (Hold).
With respect to valuation, Axcelis Technologies is currently being traded at a Forward P/E ratio of 20.64. This valuation marks a premium compared to its industry's average Forward P/E of 19.54.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 225, placing it within the bottom 11% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why the Market Dipped But Axcelis Technologies (ACLS) Gained Today
The most recent trading session ended with Axcelis Technologies (ACLS - Free Report) standing at $144.65, reflecting a +0.04% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.27%.
Coming into today, shares of the semiconductor services company had lost 7.5% in the past month. In that same time, the Computer and Technology sector lost 2.16%, while the S&P 500 lost 3.95%.
The upcoming earnings release of Axcelis Technologies will be of great interest to investors. The company's earnings report is expected on November 1, 2023. The company's upcoming EPS is projected at $1.73, signifying a 42.98% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $281.3 million, up 22.74% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.01 per share and a revenue of $1.1 billion, representing changes of +28.39% and +19.65%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Axcelis Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Axcelis Technologies is currently a Zacks Rank #3 (Hold).
With respect to valuation, Axcelis Technologies is currently being traded at a Forward P/E ratio of 20.64. This valuation marks a premium compared to its industry's average Forward P/E of 19.54.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 225, placing it within the bottom 11% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.