Camtek (CAMT) closed at $58.63 in the latest trading session, marking a -0.63% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.55% for the day. On the other hand, the Dow registered a gain of 1.01%, and the technology-centric Nasdaq decreased by 0.14%.
Prior to today's trading, shares of the maker of automatic optical inspection and process enhancement systems had lost 20.83% over the past month. This has lagged the Computer and Technology sector's loss of 8.88% and the S&P 500's loss of 6.22% in that time.
Market participants will be closely following the financial results of Camtek in its upcoming release. In that report, analysts expect Camtek to post earnings of $0.77 per share. This would mark year-over-year growth of 22.22%. Simultaneously, our latest consensus estimate expects the revenue to be $119.15 million, showing a 22.82% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.16 per share and a revenue of $485.55 million, representing changes of +11.66% and +13.12%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Camtek. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.78% lower. Currently, Camtek is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Camtek is presently being traded at a Forward P/E ratio of 18.67. This signifies a discount in comparison to the average Forward P/E of 21.3 for its industry.
One should further note that CAMT currently holds a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CAMT's industry had an average PEG ratio of 1.55 as of yesterday's close.
The Electronics - Measuring Instruments industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 44, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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