Here's Why Camtek (CAMT) Gained But Lagged the Market Today
Camtek (CAMT) ended the recent trading session at $74.35, demonstrating a +0.01% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.28%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.15%.
The maker of automatic optical inspection and process enhancement systems's shares have seen a decrease of 24.12% over the last month, not keeping up with the Computer and Technology sector's loss of 0.02% and the S&P 500's gain of 2%.
The investment community will be paying close attention to the earnings performance of Camtek in its upcoming release. In that report, analysts expect Camtek to post earnings of $0.70 per share. This would mark year-over-year growth of 37.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $108.8 million, up 35.21% from the year-ago period.
CAMT's full-year Zacks Consensus Estimates are calling for earnings of $2.71 per share and revenue of $420.95 million. These results would represent year-over-year changes of +38.27% and +33.48%, respectively.
Investors should also note any recent changes to analyst estimates for Camtek. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Camtek is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Camtek is currently exchanging hands at a Forward P/E ratio of 27.45. Its industry sports an average Forward P/E of 27.45, so one might conclude that Camtek is trading at no noticeable deviation comparatively.
Also, we should mention that CAMT has a PEG ratio of 1.29. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CAMT's industry had an average PEG ratio of 2.91 as of yesterday's close.
The Electronics - Measuring Instruments industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Camtek Ltd. (CAMT) : Free Stock Analysis Report