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Applied Materials (AMAT) Stock Moves -0.25%: What You Should Know
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Applied Materials (AMAT - Free Report) ended the recent trading session at $153.37, demonstrating a -0.25% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.56%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.
Heading into today, shares of the maker of chipmaking equipment had lost 5.28% over the past month, lagging the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2% in that time.
Market participants will be closely following the financial results of Applied Materials in its upcoming release. On that day, Applied Materials is projected to report earnings of $1.89 per share, which would represent a year-over-year decline of 6.9%. In the meantime, our current consensus estimate forecasts the revenue to be $6.47 billion, indicating a 3.96% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $7.51 per share and a revenue of $25.88 billion, demonstrating changes of -6.71% and -2.4%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Applied Materials. 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 suggests that these changes in estimates have a direct relationship with upcoming 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Applied Materials is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Applied Materials is currently exchanging hands at a Forward P/E ratio of 20.47. This valuation marks a discount compared to its industry's average Forward P/E of 24.04.
Also, we should mention that AMAT has a PEG ratio of 2.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Semiconductor Equipment - Wafer Fabrication industry stood at 3.42 at the close of the market yesterday.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Applied Materials (AMAT) Stock Moves -0.25%: What You Should Know
Applied Materials (AMAT - Free Report) ended the recent trading session at $153.37, demonstrating a -0.25% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.56%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.59%.
Heading into today, shares of the maker of chipmaking equipment had lost 5.28% over the past month, lagging the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2% in that time.
Market participants will be closely following the financial results of Applied Materials in its upcoming release. On that day, Applied Materials is projected to report earnings of $1.89 per share, which would represent a year-over-year decline of 6.9%. In the meantime, our current consensus estimate forecasts the revenue to be $6.47 billion, indicating a 3.96% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $7.51 per share and a revenue of $25.88 billion, demonstrating changes of -6.71% and -2.4%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Applied Materials. 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 suggests that these changes in estimates have a direct relationship with upcoming 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Applied Materials is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Applied Materials is currently exchanging hands at a Forward P/E ratio of 20.47. This valuation marks a discount compared to its industry's average Forward P/E of 24.04.
Also, we should mention that AMAT has a PEG ratio of 2.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Semiconductor Equipment - Wafer Fabrication industry stood at 3.42 at the close of the market yesterday.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.