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Report Link: Updated Research Report (Dated 02/01/2017)
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $7.50
Time Horizon: 12 Months
Rating Established: March 4, 2016
Price When Established: $1.88
Most Recent Report: February 1, 2017
Price When Issued: $6.30
Cemtrex Announces 1Q17 Results
On February 9, 2017, Cemtrex, Inc. (NASDAQ: CETX) announced results for its first quarter ended December 31, 2016.
For the quarter, the company reported that revenues increased 121% to $29.4 million from $13.3 million in 1Q16. Net income was $1.4 million or $0.14 per share versus net income of $692,000 or $0.09 per share in 1Q16.
Taglich Brothers estimates were for 1Q17 revenue of $30.5 million and net income of $1.3 million or $0.13 per share.
Headquartered in Farmingdale, NY, Cemtrex provides manufacturing services of advanced custom engineered electronics, industrial maintenance services, monitoring instruments for industrial processes and environmental compliance, and systems for controlling emissions.
The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with Cemtrex, Inc. and was not a manager or co-manager of any offering for the company within the last three years.