Zacks: Brokerages Expect Photronics, Inc. (PLAB) Will Post Earnings of $0.10 Per Share

Brokerages expect that Photronics, Inc. (NASDAQ:PLAB) will report $0.10 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Photronics’ earnings. The lowest EPS estimate is $0.09 and the highest is $0.10. Photronics reported earnings per share of $0.17 in the same quarter last year, which would suggest a negative year-over-year growth rate of 41.2%. The firm is expected to announce its next earnings report on Wednesday, August 28th.

On average, analysts expect that Photronics will report full-year earnings of $0.42 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.43. For the next year, analysts forecast that the firm will report earnings of $0.70 per share, with EPS estimates ranging from $0.60 to $0.80. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Photronics.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.06. Photronics had a net margin of 7.30% and a return on equity of 4.10%. The company had revenue of $131.60 million for the quarter, compared to the consensus estimate of $130.05 million. During the same quarter in the prior year, the company earned $0.15 EPS. Photronics’s quarterly revenue was up .6% on a year-over-year basis.

PLAB has been the topic of several research reports. TheStreet upgraded shares of Photronics from a “c” rating to a “b-” rating in a report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of Photronics from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Friday, May 24th. ValuEngine downgraded shares of Photronics from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Finally, BidaskClub downgraded shares of Photronics from a “hold” rating to a “sell” rating in a report on Thursday, February 28th.

In other Photronics news, insider Kang Jyh Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $10.14, for a total value of $50,700.00. Following the sale, the insider now owns 118,175 shares in the company, valued at approximately $1,198,294.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Christopher J. Progler sold 5,600 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.48, for a total value of $53,088.00. Following the completion of the sale, the vice president now owns 118,025 shares in the company, valued at approximately $1,118,877. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,050 shares of company stock worth $163,125. Insiders own 3.58% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Photronics by 2.6% in the 4th quarter. BlackRock Inc. now owns 10,215,805 shares of the semiconductor company’s stock worth $98,888,000 after purchasing an additional 260,282 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Photronics by 1.0% during the 3rd 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. Renaissance Technologies LLC lifted its position in shares of Photronics by 37.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,611,595 shares of the semiconductor company’s stock valued at $24,680,000 after buying an additional 704,795 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Photronics by 5.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,251,283 shares of the semiconductor company’s stock valued at $12,113,000 after buying an additional 64,362 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of Photronics by 1.3% during the 1st quarter. Royce & Associates LP now owns 1,178,676 shares of the semiconductor company’s stock valued at $11,138,000 after buying an additional 15,205 shares in the last quarter. Institutional investors and hedge funds own 95.82% of the company’s stock.

Shares of NASDAQ:PLAB opened at $8.43 on Tuesday. Photronics has a twelve month low of $7.60 and a twelve month high of $11.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.63 and a current ratio of 2.88. The company has a market capitalization of $557.87 million, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 2.00 and a beta of 0.51.

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 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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