In the latest trading session, GlobalFoundries Inc. (GFS - Free Report) closed at $53.89, marking a +0.15% move from the previous day. This change outpaced the S&P 500's 0.25% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 5.91%.
Coming into today, shares of the company had lost 15.47% in the past month. In that same time, the Computer and Technology sector lost 3.63%, while the S&P 500 lost 2.59%.
Wall Street will be looking for positivity from GlobalFoundries Inc. as it approaches its next earnings report date. On that day, GlobalFoundries Inc. is projected to report earnings of $1.34 per share, which would represent year-over-year growth of 644.44%. Our most recent consensus estimate is calling for quarterly revenue of $2.07 billion, up 12.31% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.01 per share and revenue of $8.08 billion. These totals would mark changes of +6120% and +22.72%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for GlobalFoundries Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GlobalFoundries Inc. is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, GlobalFoundries Inc. currently has a Forward P/E ratio of 17.91. Its industry sports an average Forward P/E of 13.8, so we one might conclude that GlobalFoundries Inc. is trading at a premium comparatively.
Meanwhile, GFS's PEG ratio is currently 0.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1.76 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% 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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In the latest trading session, GlobalFoundries Inc. (GFS - Free Report) closed at $53.89, marking a +0.15% move from the previous day. This change outpaced the S&P 500's 0.25% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 5.91%.
Coming into today, shares of the company had lost 15.47% in the past month. In that same time, the Computer and Technology sector lost 3.63%, while the S&P 500 lost 2.59%.
Wall Street will be looking for positivity from GlobalFoundries Inc. as it approaches its next earnings report date. On that day, GlobalFoundries Inc. is projected to report earnings of $1.34 per share, which would represent year-over-year growth of 644.44%. Our most recent consensus estimate is calling for quarterly revenue of $2.07 billion, up 12.31% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.01 per share and revenue of $8.08 billion. These totals would mark changes of +6120% and +22.72%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for GlobalFoundries Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GlobalFoundries Inc. is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, GlobalFoundries Inc. currently has a Forward P/E ratio of 17.91. Its industry sports an average Forward P/E of 13.8, so we one might conclude that GlobalFoundries Inc. is trading at a premium comparatively.
Meanwhile, GFS's PEG ratio is currently 0.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1.76 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% 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.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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