Camtek (CAMT) Ascends But Remains Behind Market: Some Facts to Note
Camtek (CAMT) closed at $129.56 in the latest trading session, marking a +0.19% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.55%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.63%.
The maker of automatic optical inspection and process enhancement systems's stock has climbed by 10.52% in the past month, exceeding the Computer and Technology sector's gain of 5.73% and the S&P 500's gain of 4.28%.
Market participants will be closely following the financial results of Camtek in its upcoming release. The company's upcoming EPS is projected at $0.65, signifying a 44.44% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $101.45 million, up 37.54% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.61 per share and revenue of $409.15 million. These totals would mark changes of +33.16% and +29.73%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Camtek. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Camtek is currently sporting a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Camtek is currently exchanging hands at a Forward P/E ratio of 49.47. For comparison, its industry has an average Forward P/E of 26.05, which means Camtek is trading at a premium to the group.
It is also worth noting that CAMT currently has a PEG ratio of 2.5. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Electronics - Measuring Instruments industry was having an average PEG ratio of 3.38.
The Electronics - Measuring Instruments industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Camtek Ltd. (CAMT) : Free Stock Analysis Report