Axcelis Technologies (ACLS) Outpaces Stock Market Gains: What You Should Know

The latest trading session saw Axcelis Technologies (ACLS) ending at $86.09, denoting a +0.91% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.41%. Elsewhere, the Dow saw an upswing of 0.69%, while the tech-heavy Nasdaq appreciated by 0.8%.

The semiconductor services company's stock has dropped by 14.36% in the past month, falling short of the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97%.

The upcoming earnings release of Axcelis Technologies will be of great interest to investors. The company's earnings report is expected on November 6, 2024. On that day, Axcelis Technologies is projected to report earnings of $1.43 per share, which would represent a year-over-year decline of 28.14%. Meanwhile, our latest consensus estimate is calling for revenue of $255.1 million, down 12.74% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $6.05 per share and revenue of $1.02 billion, which would represent changes of -18.57% and -9.38%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Axcelis Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Axcelis Technologies possesses a Zacks Rank of #3 (Hold).

Investors should also note Axcelis Technologies's current valuation metrics, including its Forward P/E ratio of 14.11. This valuation marks a discount compared to its industry's average Forward P/E of 21.94.

We can additionally observe that ACLS currently boasts a PEG ratio of 2.57. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Electronics - Manufacturing Machinery industry held an average PEG ratio of 1.41.

The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 74, this industry ranks in the top 30% of all industries, numbering over 250.

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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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