Shares of Cemtrex Inc (NASDAQ:CETX) hit a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $1.64 and last traded at $1.85, with a volume of 1200 shares traded. The stock had previously closed at $1.69.
The industrial products company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.15). The firm had revenue of $19.16 million during the quarter, compared to analysts’ expectations of $20.85 million. Cemtrex had a net margin of 3.28% and a return on equity of 9.34%.
Separately, ValuEngine lowered Cemtrex from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd.
The company has a quick ratio of 1.67, a current ratio of 2.40 and a debt-to-equity ratio of 0.25.
About Cemtrex (NASDAQ:CETX)
Cemtrex, Inc provides electronic manufacturing services of electric system assemblies, broad-based industrial services, and industrial air filtration and environmental control equipment and systems worldwide. The company operates in two segments, Electronics Manufacturing Services (EMS) and Industrial Products and Services (IPS).
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