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ASML (ASML) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw ASML (ASML - Free Report) ending at $1,050.74, denoting a -1% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.25% for the day. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq lost 0.79%.
The equipment supplier to semiconductor makers's shares have seen an increase of 15.08% over the last month, surpassing the Computer and Technology sector's gain of 8.85% and the S&P 500's gain of 3.59%.
The investment community will be paying close attention to the earnings performance of ASML in its upcoming release. The company is slated to reveal its earnings on July 17, 2024. The company is predicted to post an EPS of $3.87, indicating a 27.93% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $6.35 billion, indicating a 15.55% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $20.12 per share and a revenue of $29.43 billion, demonstrating changes of -6.55% and -1.25%, respectively, from the preceding year.
Any recent changes to analyst estimates for ASML should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, ASML boasts a Zacks Rank of #2 (Buy).
With respect to valuation, ASML is currently being traded at a Forward P/E ratio of 52.75. Its industry sports an average Forward P/E of 34.97, so one might conclude that ASML is trading at a premium comparatively.
It's also important to note that ASML currently trades at a PEG ratio of 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Semiconductor Equipment - Wafer Fabrication industry held an average PEG ratio of 3.5.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 194, placing it within the bottom 24% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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ASML (ASML) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw ASML (ASML - Free Report) ending at $1,050.74, denoting a -1% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.25% for the day. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq lost 0.79%.
The equipment supplier to semiconductor makers's shares have seen an increase of 15.08% over the last month, surpassing the Computer and Technology sector's gain of 8.85% and the S&P 500's gain of 3.59%.
The investment community will be paying close attention to the earnings performance of ASML in its upcoming release. The company is slated to reveal its earnings on July 17, 2024. The company is predicted to post an EPS of $3.87, indicating a 27.93% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $6.35 billion, indicating a 15.55% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $20.12 per share and a revenue of $29.43 billion, demonstrating changes of -6.55% and -1.25%, respectively, from the preceding year.
Any recent changes to analyst estimates for ASML should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, ASML boasts a Zacks Rank of #2 (Buy).
With respect to valuation, ASML is currently being traded at a Forward P/E ratio of 52.75. Its industry sports an average Forward P/E of 34.97, so one might conclude that ASML is trading at a premium comparatively.
It's also important to note that ASML currently trades at a PEG ratio of 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Semiconductor Equipment - Wafer Fabrication industry held an average PEG ratio of 3.5.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 194, placing it within the bottom 24% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.