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Celestica (CLS) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Celestica (CLS - Free Report) closed at $365.88, marking a +2.62% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.17% for the day. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.09%.
Heading into today, shares of the electronics manufacturing services company had gained 19.08% over the past month, outpacing the Computer and Technology sector's gain of 3.58% and the S&P 500's loss of 0.24%.
The investment community will be paying close attention to the earnings performance of Celestica in its upcoming release. The company's earnings per share (EPS) are projected to be $3.01, reflecting a 90.51% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.4 billion, indicating a 69.1% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.32 per share and a revenue of $20.35 billion, representing changes of +87.11% and +64.27%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Celestica boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Celestica is presently being traded at a Forward P/E ratio of 31.48. Its industry sports an average Forward P/E of 24.79, so one might conclude that Celestica is trading at a premium comparatively.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 19, finds itself in the top 8% echelons of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Celestica (CLS) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Celestica (CLS - Free Report) closed at $365.88, marking a +2.62% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.17% for the day. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.09%.
Heading into today, shares of the electronics manufacturing services company had gained 19.08% over the past month, outpacing the Computer and Technology sector's gain of 3.58% and the S&P 500's loss of 0.24%.
The investment community will be paying close attention to the earnings performance of Celestica in its upcoming release. The company's earnings per share (EPS) are projected to be $3.01, reflecting a 90.51% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.4 billion, indicating a 69.1% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.32 per share and a revenue of $20.35 billion, representing changes of +87.11% and +64.27%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Celestica boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Celestica is presently being traded at a Forward P/E ratio of 31.48. Its industry sports an average Forward P/E of 24.79, so one might conclude that Celestica is trading at a premium comparatively.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 19, finds itself in the top 8% echelons of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.