Photronics, Inc. (PLAB) Expected to Post Earnings of $0.06 Per Share

Wall Street brokerages predict that Photronics, Inc. (NASDAQ:PLAB) will post earnings of $0.06 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Photronics’ earnings. Photronics reported earnings of $0.05 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The business is scheduled to report its next earnings results on Tuesday, December 5th.

According to Zacks, analysts expect that Photronics will report full year earnings of $0.19 per share for the current financial year, with EPS estimates ranging from $0.17 to $0.20. For the next financial year, analysts anticipate that the company will post earnings of $0.48 per share, with EPS estimates ranging from $0.36 to $0.60. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Photronics.

Photronics (NASDAQ:PLAB) last announced its quarterly earnings data on Monday, August 14th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). Photronics had a net margin of 2.97% and a return on equity of 1.33%. The company had revenue of $111.60 million for the quarter, compared to the consensus estimate of $115.14 million. During the same period last year, the business posted $0.12 earnings per share.

A number of research analysts have recently issued reports on PLAB shares. Zacks Investment Research raised Photronics from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub raised Photronics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Photronics currently has a consensus rating of “Hold”.

In related news, insider Sean T. Smith sold 18,750 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $9.19, for a total value of $172,312.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher J. Progler sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $35,400.00. The disclosure for this sale can be found here. Insiders sold 26,750 shares of company stock worth $247,913 over the last three months. 3.71% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PLAB. Victory Capital Management Inc. grew its stake in shares of Photronics by 1,665.8% in the second quarter. Victory Capital Management Inc. now owns 1,766,054 shares of the semiconductor company’s stock worth $16,601,000 after purchasing an additional 1,666,037 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in shares of Photronics by 18.8% in the second quarter. Donald Smith & CO. Inc. now owns 5,267,874 shares of the semiconductor company’s stock worth $49,518,000 after purchasing an additional 835,254 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Photronics by 24.1% in the second quarter. Alliancebernstein L.P. now owns 2,135,442 shares of the semiconductor company’s stock worth $20,073,000 after purchasing an additional 414,930 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Photronics by 2,734.1% in the second quarter. D.A. Davidson & CO. now owns 403,860 shares of the semiconductor company’s stock worth $3,796,000 after purchasing an additional 389,610 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Photronics by 30.9% in the second quarter. Northern Trust Corp now owns 1,645,280 shares of the semiconductor company’s stock worth $15,466,000 after purchasing an additional 388,133 shares during the last quarter. 96.00% of the stock is currently owned by institutional investors.

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Photronics (NASDAQ:PLAB) opened at 9.40 on Friday. Photronics has a 52 week low of $7.55 and a 52 week high of $12.10. The stock’s 50 day moving average price is $8.67 and its 200-day moving average price is $9.64. The company has a market capitalization of $648.02 million, a PE ratio of 49.74 and a beta of 0.58.

About Photronics

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.

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Earnings History and Estimates for Photronics (NASDAQ:PLAB)

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