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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 the latest trading day at $116.37, indicating a -1.48% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.4%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq added 0.39%.
Prior to today's trading, shares of the electronics manufacturing services company had gained 38.4% over the past month. This has outpaced the Computer and Technology sector's gain of 11.04% and the S&P 500's gain of 6.69% in that time.
The investment community will be closely monitoring the performance of Celestica in its forthcoming earnings report. In that report, analysts expect Celestica to post earnings of $1.23 per share. This would mark year-over-year growth of 35.16%. Meanwhile, our latest consensus estimate is calling for revenue of $2.65 billion, up 10.95% from the prior-year quarter.
CLS's full-year Zacks Consensus Estimates are calling for earnings of $5.05 per share and revenue of $10.91 billion. These results would represent year-over-year changes of +30.15% and +13.15%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Celestica holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Celestica is currently exchanging hands at a Forward P/E ratio of 23.38. For comparison, its industry has an average Forward P/E of 18.83, which means Celestica is trading at a premium to the group.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Celestica (CLS) Stock Falls Amid Market Uptick: What Investors Need to Know
Celestica (CLS - Free Report) closed the latest trading day at $116.37, indicating a -1.48% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.4%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq added 0.39%.
Prior to today's trading, shares of the electronics manufacturing services company had gained 38.4% over the past month. This has outpaced the Computer and Technology sector's gain of 11.04% and the S&P 500's gain of 6.69% in that time.
The investment community will be closely monitoring the performance of Celestica in its forthcoming earnings report. In that report, analysts expect Celestica to post earnings of $1.23 per share. This would mark year-over-year growth of 35.16%. Meanwhile, our latest consensus estimate is calling for revenue of $2.65 billion, up 10.95% from the prior-year quarter.
CLS's full-year Zacks Consensus Estimates are calling for earnings of $5.05 per share and revenue of $10.91 billion. These results would represent year-over-year changes of +30.15% and +13.15%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Celestica holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Celestica is currently exchanging hands at a Forward P/E ratio of 23.38. For comparison, its industry has an average Forward P/E of 18.83, which means Celestica is trading at a premium to the group.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.