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Axcelis Technologies (ACLS) Suffers a Larger Drop Than the General Market: Key Insights
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Axcelis Technologies (ACLS - Free Report) closed the most recent trading day at $138.74, moving -1.86% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 1.18% for the day. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.76%.
Coming into today, shares of the semiconductor services company had lost 10.42% in the past month. In that same time, the Computer and Technology sector lost 2.96%, while the S&P 500 lost 3.35%.
The investment community will be closely monitoring the performance of Axcelis Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on November 1, 2023. The company is expected to report EPS of $1.73, up 42.98% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $281.3 million, up 22.74% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.01 per share and revenue of $1.1 billion, indicating changes of +28.39% and +19.65%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Axcelis Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Axcelis Technologies possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Axcelis Technologies is currently trading at a Forward P/E ratio of 20.18. This denotes a premium relative to the industry's average Forward P/E of 18.59.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 228, finds itself in the bottom 10% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Axcelis Technologies (ACLS) Suffers a Larger Drop Than the General Market: Key Insights
Axcelis Technologies (ACLS - Free Report) closed the most recent trading day at $138.74, moving -1.86% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 1.18% for the day. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.76%.
Coming into today, shares of the semiconductor services company had lost 10.42% in the past month. In that same time, the Computer and Technology sector lost 2.96%, while the S&P 500 lost 3.35%.
The investment community will be closely monitoring the performance of Axcelis Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on November 1, 2023. The company is expected to report EPS of $1.73, up 42.98% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $281.3 million, up 22.74% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.01 per share and revenue of $1.1 billion, indicating changes of +28.39% and +19.65%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Axcelis Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Axcelis Technologies possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Axcelis Technologies is currently trading at a Forward P/E ratio of 20.18. This denotes a premium relative to the industry's average Forward P/E of 18.59.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 228, finds itself in the bottom 10% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.