In the latest trading session, Axcelis Technologies (ACLS) closed at $58.47, marking a +0.52% move from the previous day. This change lagged the S&P 500's 2.13% gain on the day. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.61%.

Shares of the semiconductor services company have depreciated by 6.15% over the course of the past month, outperforming the Computer and Technology sector's loss of 13.29% and the S&P 500's loss of 9.57%.

Investors will be eagerly watching for the performance of Axcelis Technologies in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.39, marking a 75.16% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $184.65 million, indicating a 26.83% decline compared to the corresponding quarter of the prior year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.55 per share and revenue of $808.8 million, indicating changes of -58.54% and -20.54%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Axcelis Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 19.05% downward. Axcelis Technologies is currently sporting a Zacks Rank of #5 (Strong Sell).

In terms of valuation, Axcelis Technologies is presently being traded at a Forward P/E ratio of 22.81. Its industry sports an average Forward P/E of 23.89, so one might conclude that Axcelis Technologies is trading at a discount comparatively.

One should further note that ACLS currently holds a PEG ratio of 4.16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Manufacturing Machinery industry had an average PEG ratio of 1.05.

The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 244, placing it within the bottom 3% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Axcelis Technologies, Inc. (ACLS) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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