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Celestica (CLS) Declines More Than Market: Some Information for Investors
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In the latest trading session, Celestica (CLS - Free Report) closed at $351.20, marking a -6.8% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.44%. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 2.22%.
Coming into today, shares of the electronics manufacturing services company had gained 2.58% in the past month. In that same time, the Computer and Technology sector gained 0.98%, while the S&P 500 gained 0.08%.
Investors will be eagerly watching for the performance of Celestica in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.28, signifying a 64.03% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $4.32 billion, indicating a 49.3% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.16 per share and revenue of $19.06 billion, indicating changes of +67.93% and +53.82%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Celestica. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Celestica boasts a Zacks Rank of #2 (Buy).
In terms of valuation, Celestica is currently trading at a Forward P/E ratio of 37.1. This represents a premium compared to its industry average Forward P/E of 33.71.
Also, we should mention that CLS has a PEG ratio of 0.82. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Electronics - Manufacturing Services industry stood at 0.82 at the close of the market yesterday.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 26% of all industries, numbering over 250.
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.
View the Zacks #1 Rank List
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Celestica (CLS) Declines More Than Market: Some Information for Investors
In the latest trading session, Celestica (CLS - Free Report) closed at $351.20, marking a -6.8% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.44%. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 2.22%.
Coming into today, shares of the electronics manufacturing services company had gained 2.58% in the past month. In that same time, the Computer and Technology sector gained 0.98%, while the S&P 500 gained 0.08%.
Investors will be eagerly watching for the performance of Celestica in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.28, signifying a 64.03% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $4.32 billion, indicating a 49.3% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.16 per share and revenue of $19.06 billion, indicating changes of +67.93% and +53.82%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Celestica. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Celestica boasts a Zacks Rank of #2 (Buy).
In terms of valuation, Celestica is currently trading at a Forward P/E ratio of 37.1. This represents a premium compared to its industry average Forward P/E of 33.71.
Also, we should mention that CLS has a PEG ratio of 0.82. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Electronics - Manufacturing Services industry stood at 0.82 at the close of the market yesterday.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 26% of all industries, numbering over 250.
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.