Photronics Inc. PLAB is a worldwide manufacturer of photo masks that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PLAB’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Photronics could be a solid choice for investors.
Current Quarter Estimates for PLAB
In the past 7 days, 3 estimates have gone higher for Photronics while no estimate has been revised lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 15 cents a share 7 days ago, to 19 cents today, a move of 26.7%.
Current Year Estimates for PLAB
Meanwhile, Photronics’ current year figures are also looking quite promising, with 3 estimates moving higher in the past week, compared to none moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 75 cents per share 7 days ago to 84 cents per share today, an increase of 12%.
Bottom Line
The stock has also started to move higher lately, adding 23.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
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