Brokerages predict that Photronics, Inc. (NASDAQ:PLAB) will report earnings of $0.07 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Photronics’ earnings. Photronics reported earnings per share of $0.03 during the same quarter last year, which indicates a positive year over year growth rate of 133.3%. The business is expected to report its next quarterly earnings results on Wednesday, May 16th.
On average, analysts expect that Photronics will report full year earnings of $0.38 per share for the current fiscal year, with EPS estimates ranging from $0.31 to $0.45. For the next fiscal year, analysts anticipate that the company will post earnings of $0.90 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Photronics.
Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Photronics had a return on equity of 1.96% and a net margin of 3.68%. The firm had revenue of $123.40 million during the quarter, compared to analysts’ expectations of $114.13 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis.
Several brokerages recently commented on PLAB. BidaskClub upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. ValuEngine cut Photronics from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a research report on Friday, February 16th.
Shares of PLAB opened at $7.75 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.59 and a quick ratio of 5.28. Photronics has a one year low of $7.20 and a one year high of $11.75. The company has a market cap of $566.02, a P/E ratio of 40.79, a PEG ratio of 2.13 and a beta of 0.53.
In related news, Director Constantine S. Macricostas sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $7.73, for a total transaction of $3,092,000.00. Following the completion of the sale, the director now directly owns 692,575 shares in the company, valued at $5,353,604.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher J. Progler sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $8.10, for a total value of $30,375.00. The disclosure for this sale can be found here. Insiders have sold 612,870 shares of company stock valued at $4,748,515 over the last quarter. 3.73% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors boosted its stake in Photronics by 34.1% during the third quarter. Nationwide Fund Advisors now owns 119,518 shares of the semiconductor company’s stock worth $1,058,000 after buying an additional 30,424 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Photronics by 16,929.7% during the third quarter. JPMorgan Chase & Co. now owns 275,371 shares of the semiconductor company’s stock worth $2,300,000 after buying an additional 273,754 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Photronics by 51.8% during the third quarter. Wells Fargo & Company MN now owns 73,014 shares of the semiconductor company’s stock worth $646,000 after buying an additional 24,928 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Photronics by 4.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 520,312 shares of the semiconductor company’s stock worth $4,605,000 after buying an additional 21,209 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Photronics by 55.9% during the third quarter. Allianz Asset Management GmbH now owns 97,150 shares of the semiconductor company’s stock worth $860,000 after buying an additional 34,845 shares during the last quarter. Hedge funds and other institutional investors own 97.90% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.thelincolnianonline.com/2018/04/20/zacks-brokerages-anticipate-photronics-inc-plab-will-post-earnings-of-0-07-per-share.html.
Photronics Company Profile
Photronics, Inc is a manufacturer of photomasks, which are photographic quartz plates containing microscopic images of electronic circuits. As of October 30, 2016, the Company operated principally from nine manufacturing facilities: two located in Europe, three in Taiwan, one in Korea and three in the United States.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Photronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Photronics and related companies with MarketBeat.com's FREE daily email newsletter.