Photronics, Inc. (PLAB) Expected to Announce Earnings of $0.07 Per Share

Wall Street brokerages expect that Photronics, Inc. (NASDAQ:PLAB) will post earnings per share of $0.07 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Photronics’ earnings. The highest EPS estimate is $0.07 and the lowest is $0.06. Photronics reported earnings per share of $0.15 in the same quarter last year, which suggests a negative year over year growth rate of 53.3%. The business is expected to issue its next quarterly earnings results on Tuesday, May 28th.

On average, analysts expect that Photronics will report full-year earnings of $0.40 per share for the current year. For the next year, analysts forecast that the company will report earnings of $0.85 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Photronics.

Photronics (NASDAQ:PLAB) last released its earnings results on Thursday, February 21st. The semiconductor company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Photronics had a return on equity of 4.32% and a net margin of 7.72%. The firm had revenue of $124.71 million for the quarter, compared to analyst estimates of $125.10 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis.

Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Photronics from a “sell” rating to a “hold” rating in a report on Tuesday, December 25th. BidaskClub upgraded Photronics from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 27th. Finally, ValuEngine downgraded Photronics from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.00.

NASDAQ:PLAB traded down $0.07 during mid-day trading on Friday, hitting $9.38. The company had a trading volume of 221,716 shares, compared to its average volume of 673,919. Photronics has a fifty-two week low of $7.60 and a fifty-two week high of $11.58. The company has a current ratio of 2.33, a quick ratio of 2.19 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $628.95 million, a price-to-earnings ratio of 16.17, a PEG ratio of 2.27 and a beta of 0.53.

In other Photronics news, insider Kang Jyh Lee sold 5,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $10.14, for a total value of $50,700.00. Following the completion of the sale, the insider now directly owns 118,175 shares in the company, valued at $1,198,294.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher J. Progler sold 5,600 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $9.87, for a total value of $55,272.00. The disclosure for this sale can be found here. Insiders sold 29,000 shares of company stock valued at $291,127 over the last 90 days. Corporate insiders own 3.58% of the company’s stock.

Several institutional investors have recently made changes to their positions in PLAB. Oregon Public Employees Retirement Fund bought a new position in Photronics in the fourth quarter valued at approximately $26,000. Founders Capital Management acquired a new position in shares of Photronics in the 4th quarter valued at about $68,000. First Quadrant L P CA acquired a new position in shares of Photronics in the 4th quarter valued at about $77,000. Quantamental Technologies LLC acquired a new position in shares of Photronics in the 4th quarter valued at about $101,000. Finally, Verition Fund Management LLC acquired a new position in shares of Photronics in the 3rd quarter valued at about $113,000. Institutional investors own 95.39% of the company’s stock.

About Photronics

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 or glass 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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