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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.