Zacks: Analysts Anticipate Photronics, Inc. (PLAB) Will Announce Earnings of $0.17 Per Share

Equities analysts expect Photronics, Inc. (NASDAQ:PLAB) to announce $0.17 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Photronics’ earnings. The lowest EPS estimate is $0.16 and the highest is $0.17. Photronics posted earnings per share of $0.08 in the same quarter last year, which suggests a positive year-over-year growth rate of 112.5%. The firm is expected to issue its next earnings results on Wednesday, December 5th.

On average, analysts expect that Photronics will report full year earnings of $0.59 per share for the current financial year, with EPS estimates ranging from $0.58 to $0.59. For the next year, analysts expect that the firm will report earnings of $0.49 per share, with EPS estimates ranging from $0.45 to $0.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Photronics.

Photronics (NASDAQ:PLAB) last posted its quarterly earnings results on Wednesday, August 22nd. The semiconductor company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $136.39 million during the quarter, compared to analyst estimates of $132.67 million. Photronics had a net margin of 6.83% and a return on equity of 3.65%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share.

A number of equities analysts have weighed in on PLAB shares. BidaskClub lowered shares of Photronics from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. ValuEngine lowered shares of Photronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Photronics from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Saturday, August 25th. Finally, TheStreet upgraded shares of Photronics from a “c+” rating to a “b-” rating in a research report on Tuesday, September 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.67.

Shares of PLAB traded down $0.24 during mid-day trading on Friday, reaching $9.66. The stock had a trading volume of 325,786 shares, compared to its average volume of 472,217. The firm has a market cap of $699.34 million, a P/E ratio of 50.84, a PEG ratio of 2.06 and a beta of 0.68. Photronics has a 12 month low of $7.20 and a 12 month high of $11.00.

Photronics declared that its Board of Directors has authorized a share buyback program on Friday, October 12th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the semiconductor company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, VP Christopher J. Progler sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $10.60, for a total transaction of $31,800.00. Following the sale, the vice president now owns 92,900 shares of the company’s stock, valued at $984,740. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher J. Progler sold 5,300 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $9.84, for a total transaction of $52,152.00. Following the sale, the vice president now directly owns 92,400 shares in the company, valued at approximately $909,216. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,670 shares of company stock valued at $156,748. 3.73% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC purchased a new stake in Photronics during the second quarter valued at $101,000. Paloma Partners Management Co purchased a new stake in Photronics during the second quarter valued at $102,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Photronics during the second quarter valued at $118,000. SG Americas Securities LLC raised its stake in Photronics by 46.2% during the second quarter. SG Americas Securities LLC now owns 24,430 shares of the semiconductor company’s stock valued at $195,000 after purchasing an additional 7,720 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Photronics during the second quarter valued at $197,000. 92.79% of the stock is currently owned by institutional investors.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, manufactures and sells photomasks in Taiwan, Korea, the United States, Europe, and internationally. The company offers photomasks, which are high precision photographic quartz plates containing microscopic images of electronic circuits for use in the manufacture of semiconductors and flat panel displays (FPDs), as well as that are used as masters to transfer circuit patterns onto semiconductor wafers and flat panel display substrates during the fabrication of integrated circuits, FPDs, and other types of electrical and optical components.

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Earnings History and Estimates for Photronics (NASDAQ:PLAB)

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