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ASML (ASML - Free Report) closed at $757.83 in the latest trading session, marking a +1.79% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.23%. On the other hand, the Dow registered a gain of 1.06%, and the technology-centric Nasdaq increased by 1.7%.
Heading into today, shares of the equipment supplier to semiconductor makers had lost 1.42% over the past month, lagging the Computer and Technology sector's gain of 1.98% and the S&P 500's gain of 0.94% in that time.
Investors will be eagerly watching for the performance of ASML in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 24, 2024. The company is forecasted to report an EPS of $5.12, showcasing an 8.94% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.34 billion, up 11.76% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ASML. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. ASML presently features a Zacks Rank of #2 (Buy).
Looking at valuation, ASML is presently trading at a Forward P/E ratio of 36.62. This represents a premium compared to its industry's average Forward P/E of 24.92.
We can also see that ASML currently has a PEG ratio of 1.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Semiconductor Equipment - Wafer Fabrication stocks are, on average, holding a PEG ratio of 3.48 based on yesterday's closing prices.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why ASML (ASML) Outpaced the Stock Market Today
ASML (ASML - Free Report) closed at $757.83 in the latest trading session, marking a +1.79% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.23%. On the other hand, the Dow registered a gain of 1.06%, and the technology-centric Nasdaq increased by 1.7%.
Heading into today, shares of the equipment supplier to semiconductor makers had lost 1.42% over the past month, lagging the Computer and Technology sector's gain of 1.98% and the S&P 500's gain of 0.94% in that time.
Investors will be eagerly watching for the performance of ASML in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 24, 2024. The company is forecasted to report an EPS of $5.12, showcasing an 8.94% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.34 billion, up 11.76% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ASML. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. ASML presently features a Zacks Rank of #2 (Buy).
Looking at valuation, ASML is presently trading at a Forward P/E ratio of 36.62. This represents a premium compared to its industry's average Forward P/E of 24.92.
We can also see that ASML currently has a PEG ratio of 1.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Semiconductor Equipment - Wafer Fabrication stocks are, on average, holding a PEG ratio of 3.48 based on yesterday's closing prices.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.