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In the latest trading session, Axcelis Technologies (ACLS) closed at $58.47, marking a +0.52% move from the previous day. This change lagged the S&P 500's 2.13% gain on the day. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.61%.
Shares of the semiconductor services company have depreciated by 6.15% over the course of the past month, outperforming the Computer and Technology sector's loss of 13.29% and the S&P 500's loss of 9.57%.
Investors will be eagerly watching for the performance of Axcelis Technologies in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.39, marking a 75.16% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $184.65 million, indicating a 26.83% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.55 per share and revenue of $808.8 million, indicating changes of -58.54% and -20.54%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Axcelis Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 past month, the Zacks Consensus EPS estimate has shifted 19.05% downward. Axcelis Technologies is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Axcelis Technologies is presently being traded at a Forward P/E ratio of 22.81. Its industry sports an average Forward P/E of 23.89, so one might conclude that Axcelis Technologies is trading at a discount comparatively.
One should further note that ACLS currently holds a PEG ratio of 4.16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Manufacturing Machinery industry had an average PEG ratio of 1.05.