Updated research from Clarus Securities and M Partners falls under the theme of “Gearing Up For A Strong 2022 & Beyond” with target prices that are four to five times greater than where the stock is currently trading, which is in the $0.25 range.
Following the recent release of the company’s 2021 year end and Q4/21 financial results, Steve Kammermayer of Clarus Securities reaffirmed his $1.25 target price and Nicholas Cortellucci of M Partners stood at $1.00 based on a common belief that CEMATRIX will see 2022 as an “inflection” point.
Expectations around opportunities within the infrastructure sector and the growing acceptance of cellular concrete throughout North America are behind the analysts’ expectations for CEMATRIX’s growth prospects.
CVX reported 2021 revenues of $22.6 million and negative EBITDA of $1 million.
Clarus Forecasts:
2022 revenues of $35.4 million and EBITDA of $5.9 million
2023 revenues of $56.5 million and EBITDA of $13 million
M Partners Forecasts:
2022 revenues of $33 million and adjusted EBITDA of $4.7 million
2023 revenues of $40 million and adjusted EBITDA of $9.9 million
Analyst excerpts:
We remind readers that CVX’s current equipment can service up to $175M in annual revenue and thus can serve an influx of demand as COVID delays fade.
While some projects have been delayed due to COVID related supply chain disruptions, it is important to note that none have been cancelled. Cematrix has contracts in hand (or verbally awarded) which are expected to generate revenue of $82+ MM.