Photronics (NASDAQ:PLAB) Updates Q3 2024 Earnings Guidance

Photronics (NASDAQ:PLAB) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.530-0.590 for the period, compared to the consensus earnings per share estimate of 0.580. The company issued revenue guidance of $221.0 million-$229.0 million, compared to the consensus revenue estimate of $240.0 million. Photronics also updated its Q3 guidance to $0.53-0.59 EPS.

Analyst Ratings Changes

Separately, StockNews.com downgraded Photronics from a strong-buy rating to a buy rating in a report on Thursday, February 22nd.

Photronics Stock Down 6.9 %

Shares of PLAB stock opened at $26.32 on Thursday. The stock has a market capitalization of $1.67 billion, a PE ratio of 11.80 and a beta of 1.41. Photronics has a 52-week low of $16.98 and a 52-week high of $34.16. The stock’s 50-day moving average price is $28.12 and its 200 day moving average price is $27.72.

Photronics (NASDAQ:PLAB) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.09). The company had revenue of $217.00 million during the quarter, compared to analyst estimates of $231.00 million. Photronics had a net margin of 15.34% and a return on equity of 10.37%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. Analysts expect that Photronics will post 2.15 earnings per share for the current fiscal year.

About Photronics

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.