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Celestica (CLS) Falls More Steeply Than Broader Market: What Investors Need to Know
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The most recent trading session ended with Celestica (CLS - Free Report) standing at $56.32, reflecting a -0.91% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 0.78%. On the other hand, the Dow registered a loss of 1.29%, and the technology-centric Nasdaq decreased by 0.7%.
Heading into today, shares of the electronics manufacturing services company had lost 3.81% over the past month, lagging the Computer and Technology sector's loss of 3.17% and the S&P 500's gain of 2.14% in that time.
The upcoming earnings release of Celestica will be of great interest to investors. The company's earnings report is expected on July 24, 2024. The company is forecasted to report an EPS of $0.81, showcasing a 47.27% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.25 billion, showing a 15.78% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.32 per share and a revenue of $9.12 billion, representing changes of +36.63% and +14.59%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Celestica. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Celestica is carrying a Zacks Rank of #3 (Hold).
Investors should also note Celestica's current valuation metrics, including its Forward P/E ratio of 17.15. This valuation marks a premium compared to its industry's average Forward P/E of 15.4.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 227, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Celestica (CLS) Falls More Steeply Than Broader Market: What Investors Need to Know
The most recent trading session ended with Celestica (CLS - Free Report) standing at $56.32, reflecting a -0.91% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 0.78%. On the other hand, the Dow registered a loss of 1.29%, and the technology-centric Nasdaq decreased by 0.7%.
Heading into today, shares of the electronics manufacturing services company had lost 3.81% over the past month, lagging the Computer and Technology sector's loss of 3.17% and the S&P 500's gain of 2.14% in that time.
The upcoming earnings release of Celestica will be of great interest to investors. The company's earnings report is expected on July 24, 2024. The company is forecasted to report an EPS of $0.81, showcasing a 47.27% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.25 billion, showing a 15.78% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.32 per share and a revenue of $9.12 billion, representing changes of +36.63% and +14.59%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Celestica. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Celestica is carrying a Zacks Rank of #3 (Hold).
Investors should also note Celestica's current valuation metrics, including its Forward P/E ratio of 17.15. This valuation marks a premium compared to its industry's average Forward P/E of 15.4.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 227, putting it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.