Analyst Estimate .25/share for 2014
There is only one analyst currently following Camtek, (Chardan Capital Markets), although I expect more will follow the company soon.
Charden is projecting .25 EPS for Camtek in 2014, and since Camtek has provided no firm revenue or income guidance from the launch of their 3D printer yet, EPS could come in much higher for next year.
In addition to GreenJet 3D printer sales, Camtek will realize repeat sales of consumables for the printer from their SMI-200F solder mask jetable ink used by the system.
With forward PE multiples for 3D printing stocks running in the 50+ range and projected earnings of .25/share, I believe there is room for significant share price appreciation in Camtek, especially once the company issues a press release on the launch of the GreenJet system and the stock gets more attention as a player in additive manufacturing.
Sentiment: Strong Buy
CEO Roy Porat:
“I will think it will have a big impact on the revenue line in the near future, no doubt in my mind again as I’ve said I think, the risk element big part of the risk element is behind us in terms of the technology, and we’re few weeks from putting tooling to a customer. And I think the next milestone is really meeting this milestone which will be few weeks from now. So by next quarter call, I hope I’ll have more interesting update. And I think we’ll take it once step at a time and I don’t think I want to go into details right now of expected revenues in 2014, a little bit too early for us to estimate. And we have to remember, although 3D printing is it’s a technology out there already, but 3D printing for our application, which is a functional 3D printing, has not been done yet in the world. So as far as I know we’re the first one.”
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Read more: http://www.nasdaq.com/symbol/camt/institutional-holdings#ixzz2lydM7HUM
1. Healthy balance sheet, $21M COH, only $817K debt.
2. Generated $3.1M CF n 3rd qtr
3. Calling for 11% sequential increase in sales, not including sells for game changing commercial grade 3D printer for electronc circuit boards which debuts early 2014.
4. Only 30M os shares, just 10M float.
5. Impressive fund participation
6. New 3D printer coming out 2014 said to expand addressable market by up to and additional $700M
7. .25 eps estimate doesn't take into consideration new revenue from new 3D printer.
8. currently trading little over one time sales when others like xone, vjet and onvo trading anywere from 25 to 600 time sales.
Maybe this might help!
Even a low (for a 3D printing company) forward multiple of 50, at the consensus estimate for 2014 earnings per share of $0.25 (just one analyst, but still), the stock should be worth about $12.50 a share.
Camtek sees the market for its printers at $600 to $700 million (third-quarter revenues totaled less than $22 million) and the company expects to put the device in a customer’s hands in a few weeks for testing. As the CEO noted, “[A]lthough 3D printing is a technology out there already, but 3D printing for our application, which is a functional 3D printing, has not been done yet in the world. So as far as I know we're the first one.” Being first at anything is always a big plus.