Axcelis Technologies (ACLS) closed the most recent trading day at $172.61, moving -0.39% from the previous trading session. This change lagged the S&P 500's 0.12% gain on the day. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq lost 4.09%.
Coming into today, shares of the semiconductor services company had gained 38.47% in the past month. In that same time, the Computer and Technology sector gained 9.32%, while the S&P 500 gained 3.98%.
Wall Street will be looking for positivity from Axcelis Technologies as it approaches its next earnings report date. On that day, Axcelis Technologies is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 10.61%. Meanwhile, our latest consensus estimate is calling for revenue of $256 million, up 15.74% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.47 per share and revenue of $1.04 billion, which would represent changes of +18.5% and +12.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Axcelis Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.52% higher within the past month. Axcelis Technologies is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Axcelis Technologies currently has a Forward P/E ratio of 26.77. For comparison, its industry has an average Forward P/E of 26.77, which means Axcelis Technologies is trading at a no noticeable deviation to the group.
The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 107, putting it in the top 43% 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.
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