Brokerages Expect Photronics, Inc. (PLAB) to Post $0.05 Earnings Per Share

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Brokerages expect that Photronics, Inc. (NASDAQ:PLAB) will announce $0.05 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Photronics’ earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.06. Photronics posted earnings per share of $0.09 in the same quarter last year, which indicates a negative year over year growth rate of 44.4%. The firm is expected to report its next earnings results on Wednesday, February 13th.

On average, analysts expect that Photronics will report full year earnings of $0.48 per share for the current year, with EPS estimates ranging from $0.45 to $0.50. For the next fiscal year, analysts forecast that the firm will report earnings of $0.85 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Photronics.

Photronics (NASDAQ:PLAB) last posted its earnings results on Wednesday, December 12th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $144.70 million during the quarter, compared to analysts’ expectations of $137.20 million. Photronics had a return on equity of 4.38% and a net margin of 7.86%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share.

Several equities research analysts have issued reports on PLAB shares. BidaskClub cut Photronics from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. ValuEngine raised Photronics from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Finally, Zacks Investment Research cut Photronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $11.00.

In other Photronics news, VP Christopher J. Progler sold 9,475 shares of the firm’s stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $9.42, for a total value of $89,254.50. Following the sale, the vice president now directly owns 121,900 shares in the company, valued at $1,148,298. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George Macricostas sold 3,000 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $9.60, for a total value of $28,800.00. Following the completion of the sale, the director now owns 55,000 shares in the company, valued at $528,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,389 shares of company stock valued at $676,419. Company insiders own 3.73% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc raised its stake in Photronics by 1.0% in the third quarter. Vanguard Group Inc now owns 4,365,171 shares of the semiconductor company’s stock valued at $42,996,000 after buying an additional 41,815 shares in the last quarter. Vanguard Group Inc. raised its stake in Photronics by 1.0% in the third quarter. Vanguard Group Inc. now owns 4,365,171 shares of the semiconductor company’s stock valued at $42,996,000 after buying an additional 41,815 shares in the last quarter. Legal & General Group Plc raised its stake in Photronics by 6.0% in the third quarter. Legal & General Group Plc now owns 146,408 shares of the semiconductor company’s stock valued at $1,431,000 after buying an additional 8,297 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Photronics by 49.2% in the third quarter. TIAA CREF Investment Management LLC now owns 396,169 shares of the semiconductor company’s stock valued at $3,902,000 after buying an additional 130,694 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Photronics in the third quarter valued at $213,000. Institutional investors own 97.57% of the company’s stock.

PLAB stock opened at $10.38 on Friday. The firm has a market cap of $696.67 million, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.19 and a beta of 0.56. Photronics has a 52-week low of $7.20 and a 52-week high of $11.00.

Photronics declared that its board has approved a stock repurchase program on Friday, October 12th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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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