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Celestica (CLS) Stock Falls Amid Market Uptick: What Investors Need to Know
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Celestica (CLS - Free Report) closed at $55.57 in the latest trading session, marking a -0.63% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.11%. On the other hand, the Dow registered a loss of 0.3%, and the technology-centric Nasdaq increased by 0.56%.
The electronics manufacturing services company's stock has climbed by 24.65% in the past month, exceeding the Computer and Technology sector's gain of 7.61% and the S&P 500's gain of 5.06%.
The upcoming earnings release of Celestica will be of great interest to investors. The company's upcoming EPS is projected at $0.81, signifying a 47.27% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.25 billion, up 15.78% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.32 per share and revenue of $9.12 billion, which would represent changes of +36.63% and +14.59%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Celestica presently features a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Celestica is holding a Forward P/E ratio of 16.87. This expresses a premium compared to the average Forward P/E of 15.5 of its industry.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 50, positioning it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CLS in the coming trading sessions, be sure to utilize Zacks.com.
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Celestica (CLS) Stock Falls Amid Market Uptick: What Investors Need to Know
Celestica (CLS - Free Report) closed at $55.57 in the latest trading session, marking a -0.63% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.11%. On the other hand, the Dow registered a loss of 0.3%, and the technology-centric Nasdaq increased by 0.56%.
The electronics manufacturing services company's stock has climbed by 24.65% in the past month, exceeding the Computer and Technology sector's gain of 7.61% and the S&P 500's gain of 5.06%.
The upcoming earnings release of Celestica will be of great interest to investors. The company's upcoming EPS is projected at $0.81, signifying a 47.27% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.25 billion, up 15.78% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.32 per share and revenue of $9.12 billion, which would represent changes of +36.63% and +14.59%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Celestica presently features a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Celestica is holding a Forward P/E ratio of 16.87. This expresses a premium compared to the average Forward P/E of 15.5 of its industry.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 50, positioning it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CLS in the coming trading sessions, be sure to utilize Zacks.com.