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Celestica (CLS) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Celestica (CLS - Free Report) closed at $59.40, marking a -0.13% move from the previous day. This move lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.63%.
Prior to today's trading, shares of the electronics manufacturing services company had gained 4.77% over the past month. This has lagged the Computer and Technology sector's gain of 5.73% and outpaced the S&P 500's gain of 4.28% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Celestica in its upcoming earnings disclosure. The company's earnings report is set to go public on July 24, 2024. The company's upcoming EPS is projected at $0.81, signifying a 47.27% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.25 billion, reflecting a 15.78% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.32 per share and revenue of $9.12 billion. These totals would mark changes of +36.63% and +14.59%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Celestica is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Celestica is at present trading with a Forward P/E ratio of 17.94. For comparison, its industry has an average Forward P/E of 15.77, which means Celestica is trading at a premium to the group.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 226, placing it within the bottom 11% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Celestica (CLS) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Celestica (CLS - Free Report) closed at $59.40, marking a -0.13% move from the previous day. This move lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.63%.
Prior to today's trading, shares of the electronics manufacturing services company had gained 4.77% over the past month. This has lagged the Computer and Technology sector's gain of 5.73% and outpaced the S&P 500's gain of 4.28% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Celestica in its upcoming earnings disclosure. The company's earnings report is set to go public on July 24, 2024. The company's upcoming EPS is projected at $0.81, signifying a 47.27% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.25 billion, reflecting a 15.78% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.32 per share and revenue of $9.12 billion. These totals would mark changes of +36.63% and +14.59%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Celestica is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Celestica is at present trading with a Forward P/E ratio of 17.94. For comparison, its industry has an average Forward P/E of 15.77, which means Celestica is trading at a premium to the group.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 226, placing it within the bottom 11% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.