Cemtrex (CETX) Reaches New 1-Year Low After Earnings Miss

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.

A hedge fund recently raised its stake in Cemtrex stock. Renaissance Technologies LLC boosted its stake in shares of Cemtrex Inc (NASDAQ:CETX) by 485.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,000 shares of the industrial products company’s stock after buying an additional 71,300 shares during the period. Renaissance Technologies LLC owned 0.82% of Cemtrex worth $219,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 6.22% of the company’s stock.

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).

Recommended Story: Market Capitalization – What it Means for Investors

Receive News & Ratings for Cemtrex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemtrex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply