Yahoo Finance Here's Why Axcelis Technologies (ACLS) Fell More Than Broader Market
In the latest market close, Axcelis Technologies (ACLS) reached $138.73, with a -1.72% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.12%.
Shares of the semiconductor services company witnessed a gain of 24.29% over the previous month, beating the performance of the Computer and Technology sector with its loss of 2.27% and the S&P 500's gain of 4.15%.
Market participants will be closely following the financial results of Axcelis Technologies in its upcoming release. The company's earnings per share (EPS) are projected to be $1.30, reflecting a 30.11% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $243.95 million, reflecting a 10.96% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.41 per share and revenue of $1.06 billion, which would represent changes of -13.73% and -6.14%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Axcelis Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Axcelis Technologies currently has a Zacks Rank of #4 (Sell).
Investors should also note Axcelis Technologies's current valuation metrics, including its Forward P/E ratio of 22.04. This signifies a discount in comparison to the average Forward P/E of 30.55 for its industry.
We can also see that ACLS currently has a PEG ratio of 3.42. 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. The Electronics - Manufacturing Machinery industry currently had an average PEG ratio of 3.99 as of yesterday's close.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 161, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Axcelis Technologies, Inc. (ACLS) : Free Stock Analysis Report
