Axcelis Technologies (ACLS) Stock Sinks As Market Gains: What You Should Know
Axcelis Technologies (ACLS) closed the latest trading day at $99.59, indicating a -1.91% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 1%.
Coming into today, shares of the semiconductor services company had lost 7.88% in the past month. In that same time, the Computer and Technology sector gained 2.48%, while the S&P 500 gained 4.03%.
Market participants will be closely following the financial results of Axcelis Technologies in its upcoming release. It is anticipated that the company will report an EPS of $1.43, marking a 28.14% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $255.1 million, indicating a 12.74% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.05 per share and a revenue of $1.02 billion, representing changes of -18.57% and -9.38%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Axcelis Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Axcelis Technologies holds a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, Axcelis Technologies is currently exchanging hands at a Forward P/E ratio of 16.79. This signifies a discount in comparison to the average Forward P/E of 20.04 for its industry.
Investors should also note that ACLS has a PEG ratio of 3.06 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Electronics - Manufacturing Machinery industry was having an average PEG ratio of 1.49.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 192, finds itself in the bottom 25% echelons of all 250+ industries.
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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Axcelis Technologies, Inc. (ACLS) : Free Stock Analysis Report