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Celestica (CLS) Beats Stock Market Upswing: What Investors Need to Know
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In the latest close session, Celestica (CLS - Free Report) was up +2.63% at $403.45. The stock's change was more than the S&P 500's daily gain of 1.65%. Elsewhere, the Dow gained 0.92%, while the tech-heavy Nasdaq added 3.07%.
Shares of the electronics manufacturing services company have appreciated by 9.64% over the course of the past month, outperforming the Computer and Technology sector's gain of 0.33%, and the S&P 500's gain of 0.48%.
Market participants will be closely following the financial results of Celestica in its upcoming release. It is anticipated that the company will report an EPS of $2.28, marking a 64.03% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.32 billion, showing a 49.3% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.16 per share and a revenue of $19.06 billion, signifying shifts of +67.93% and +53.82%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Celestica. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Celestica is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Celestica has a Forward P/E ratio of 38.7 right now. For comparison, its industry has an average Forward P/E of 33.69, which means Celestica is trading at a premium to the group.
It's also important to note that CLS currently trades at a PEG ratio of 0.86. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Electronics - Manufacturing Services was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
View the Zacks #1 Rank List
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Celestica (CLS) Beats Stock Market Upswing: What Investors Need to Know
In the latest close session, Celestica (CLS - Free Report) was up +2.63% at $403.45. The stock's change was more than the S&P 500's daily gain of 1.65%. Elsewhere, the Dow gained 0.92%, while the tech-heavy Nasdaq added 3.07%.
Shares of the electronics manufacturing services company have appreciated by 9.64% over the course of the past month, outperforming the Computer and Technology sector's gain of 0.33%, and the S&P 500's gain of 0.48%.
Market participants will be closely following the financial results of Celestica in its upcoming release. It is anticipated that the company will report an EPS of $2.28, marking a 64.03% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.32 billion, showing a 49.3% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.16 per share and a revenue of $19.06 billion, signifying shifts of +67.93% and +53.82%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Celestica. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Celestica is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Celestica has a Forward P/E ratio of 38.7 right now. For comparison, its industry has an average Forward P/E of 33.69, which means Celestica is trading at a premium to the group.
It's also important to note that CLS currently trades at a PEG ratio of 0.86. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Electronics - Manufacturing Services was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.