Axcelis Technologies (ACLS) closed at $108.35 in the latest trading session, marking a -5.87% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.09%. Meanwhile, the Dow experienced a drop of 0.34%, and the technology-dominated Nasdaq saw a decrease of 2.15%.
Coming into today, shares of the semiconductor services company had gained 10.05% in the past month. In that same time, the Computer and Technology sector gained 1.99%, while the S&P 500 gained 2.44%.
The upcoming earnings release of Axcelis Technologies will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.11, reflecting a 8.26% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $230.05 million, indicating a 7.7% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.12 per share and revenue of $883.6 million, which would represent changes of -15.57% and +5.31%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Axcelis Technologies. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Axcelis Technologies boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Axcelis Technologies is holding a Forward P/E ratio of 27.94. This signifies no noticeable deviation in comparison to the average Forward P/E of 27.94 for its industry.
It is also worth noting that ACLS currently has a PEG ratio of 2.89. 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. As of the close of trade yesterday, the Electronics - Manufacturing Machinery industry held an average PEG ratio of 1.71.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>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
Axcelis Technologies, Inc. (ACLS): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).