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ASML (ASML) Falls More Steeply Than Broader Market: What Investors Need to Know
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ASML (ASML - Free Report) closed at $833.97 in the latest trading session, marking a -1.41% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.21%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.05%.
The equipment supplier to semiconductor makers's shares have seen an increase of 5.72% over the last month, not keeping up with the Computer and Technology sector's gain of 9.62% and the S&P 500's gain of 5.94%.
Market participants will be closely following the financial results of ASML in its upcoming release. The company plans to announce its earnings on October 16, 2024. The company's earnings per share (EPS) are projected to be $5.27, reflecting a 0.76% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $7.66 billion, indicating a 5.42% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $20.38 per share and revenue of $30.19 billion, which would represent changes of -5.34% and +1.29%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ASML. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, ASML is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ASML has a Forward P/E ratio of 41.5 right now. For comparison, its industry has an average Forward P/E of 28, which means ASML is trading at a premium to the group.
We can also see that ASML currently has a PEG ratio of 2.08. 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. The Semiconductor Equipment - Wafer Fabrication industry had an average PEG ratio of 2.37 as trading concluded yesterday.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ASML (ASML) Falls More Steeply Than Broader Market: What Investors Need to Know
ASML (ASML - Free Report) closed at $833.97 in the latest trading session, marking a -1.41% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.21%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq depreciated by 0.05%.
The equipment supplier to semiconductor makers's shares have seen an increase of 5.72% over the last month, not keeping up with the Computer and Technology sector's gain of 9.62% and the S&P 500's gain of 5.94%.
Market participants will be closely following the financial results of ASML in its upcoming release. The company plans to announce its earnings on October 16, 2024. The company's earnings per share (EPS) are projected to be $5.27, reflecting a 0.76% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $7.66 billion, indicating a 5.42% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $20.38 per share and revenue of $30.19 billion, which would represent changes of -5.34% and +1.29%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ASML. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, ASML is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ASML has a Forward P/E ratio of 41.5 right now. For comparison, its industry has an average Forward P/E of 28, which means ASML is trading at a premium to the group.
We can also see that ASML currently has a PEG ratio of 2.08. 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. The Semiconductor Equipment - Wafer Fabrication industry had an average PEG ratio of 2.37 as trading concluded yesterday.
The Semiconductor Equipment - Wafer Fabrication industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.