Here's What Analysts Are Forecasting For Axcelis Technologies, Inc. (NASDAQ:ACLS) After Its Full-Year Results

Last week, you might have seen that Axcelis Technologies, Inc. (NASDAQ:ACLS) released its full-year result to the market. The early response was not positive, with shares down 4.8% to US$125 in the past week. Results were roughly in line with estimates, with revenues of US$1.1b and statutory earnings per share of US$7.43. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

Check out our latest analysis for Axcelis Technologies

Taking into account the latest results, Axcelis Technologies' seven analysts currently expect revenues in 2024 to be US$1.13b, approximately in line with the last 12 months. Statutory earnings per share are forecast to reduce 8.6% to US$6.87 in the same period. Before this earnings report, the analysts had been forecasting revenues of US$1.17b and earnings per share (EPS) of US$7.59 in 2024. It's pretty clear that pessimism has reared its head after the latest results, leading to a weaker revenue outlook and a minor downgrade to earnings per share estimates.

Despite the cuts to forecast earnings, there was no real change to the US$160 price target, showing that the analysts don't think the changes have a meaningful impact on its intrinsic value. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Axcelis Technologies, with the most bullish analyst valuing it at US$180 and the most bearish at US$130 per share. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Axcelis Technologies' past performance and to peers in the same industry. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 0.2% by the end of 2024. This indicates a significant reduction from annual growth of 26% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 16% per year. It's pretty clear that Axcelis Technologies' revenues are expected to perform substantially worse than the wider industry.

The Bottom Line

The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Axcelis Technologies. Unfortunately, they also downgraded their revenue estimates, and our data indicates underperformance compared to the wider industry. Even so, earnings per share are more important to the intrinsic value of the business. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Axcelis Technologies going out to 2025, and you can see them free on our platform here..

We also provide an overview of the Axcelis Technologies Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.