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Celestica (CLS) Stock Drops Despite Market Gains: Important Facts to Note
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Celestica (CLS - Free Report) ended the recent trading session at $246.42, demonstrating a -2.61% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.85%. Meanwhile, the Dow experienced a rise of 1.36%, and the technology-dominated Nasdaq saw an increase of 0.72%.
Heading into today, shares of the electronics manufacturing services company had gained 23.9% over the past month, outpacing the Computer and Technology sector's gain of 4.39% and the S&P 500's gain of 2.38%.
Market participants will be closely following the financial results of Celestica in its upcoming release. In that report, analysts expect Celestica to post earnings of $1.45 per share. This would mark year-over-year growth of 39.42%. Meanwhile, the latest consensus estimate predicts the revenue to be $3 billion, indicating a 19.99% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $5.55 per share and a revenue of $11.63 billion, demonstrating changes of +43.04% and +20.61%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Celestica. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, the Zacks Consensus EPS estimate remained stagnant. Right now, Celestica possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Celestica is at present trading with a Forward P/E ratio of 45.59. This signifies a premium in comparison to the average Forward P/E of 20.08 for its industry.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 9, positioning it in the top 4% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Celestica (CLS) Stock Drops Despite Market Gains: Important Facts to Note
Celestica (CLS - Free Report) ended the recent trading session at $246.42, demonstrating a -2.61% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.85%. Meanwhile, the Dow experienced a rise of 1.36%, and the technology-dominated Nasdaq saw an increase of 0.72%.
Heading into today, shares of the electronics manufacturing services company had gained 23.9% over the past month, outpacing the Computer and Technology sector's gain of 4.39% and the S&P 500's gain of 2.38%.
Market participants will be closely following the financial results of Celestica in its upcoming release. In that report, analysts expect Celestica to post earnings of $1.45 per share. This would mark year-over-year growth of 39.42%. Meanwhile, the latest consensus estimate predicts the revenue to be $3 billion, indicating a 19.99% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $5.55 per share and a revenue of $11.63 billion, demonstrating changes of +43.04% and +20.61%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Celestica. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, the Zacks Consensus EPS estimate remained stagnant. Right now, Celestica possesses a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Celestica is at present trading with a Forward P/E ratio of 45.59. This signifies a premium in comparison to the average Forward P/E of 20.08 for its industry.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 9, positioning it in the top 4% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.