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KLA (KLAC - Free Report) closed at $867.18 in the latest trading session, marking a +1.06% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.64%. Elsewhere, the Dow saw an upswing of 1.85%, while the tech-heavy Nasdaq appreciated by 0.2%.
Prior to today's trading, shares of the maker of equipment for manufacturing semiconductors had gained 1.09% over the past month. This has outpaced the Computer and Technology sector's gain of 1.06% and lagged the S&P 500's gain of 3.82% in that time.
Market participants will be closely following the financial results of KLA in its upcoming release. The company plans to announce its earnings on July 24, 2024. It is anticipated that the company will report an EPS of $6.08, marking a 12.59% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.5 billion, indicating a 6.34% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for KLA. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, KLA possesses a Zacks Rank of #3 (Hold).
In terms of valuation, KLA is currently trading at a Forward P/E ratio of 30.46. This valuation marks a premium compared to its industry's average Forward P/E of 21.15.
We can additionally observe that KLAC currently boasts a PEG ratio of 3.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 2.9 based on yesterday's closing prices.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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KLA (KLAC) Rises Higher Than Market: Key Facts
KLA (KLAC - Free Report) closed at $867.18 in the latest trading session, marking a +1.06% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.64%. Elsewhere, the Dow saw an upswing of 1.85%, while the tech-heavy Nasdaq appreciated by 0.2%.
Prior to today's trading, shares of the maker of equipment for manufacturing semiconductors had gained 1.09% over the past month. This has outpaced the Computer and Technology sector's gain of 1.06% and lagged the S&P 500's gain of 3.82% in that time.
Market participants will be closely following the financial results of KLA in its upcoming release. The company plans to announce its earnings on July 24, 2024. It is anticipated that the company will report an EPS of $6.08, marking a 12.59% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.5 billion, indicating a 6.34% upward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for KLA. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, KLA possesses a Zacks Rank of #3 (Hold).
In terms of valuation, KLA is currently trading at a Forward P/E ratio of 30.46. This valuation marks a premium compared to its industry's average Forward P/E of 21.15.
We can additionally observe that KLAC currently boasts a PEG ratio of 3.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Electronics - Miscellaneous Products stocks are, on average, holding a PEG ratio of 2.9 based on yesterday's closing prices.
The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.