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Celestica (CLS) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest close session, Celestica (CLS - Free Report) was down 1.2% at $382.69. The stock trailed the S&P 500, which registered a daily gain of 0.66%. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 1.05%.
Heading into today, shares of the electronics manufacturing services company had gained 24% over the past month, outpacing the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 0.55%.
Investors will be eagerly watching for the performance of Celestica in its upcoming earnings disclosure. On that day, Celestica is projected to report earnings of $3.01 per share, which would represent year-over-year growth of 90.51%. Simultaneously, our latest consensus estimate expects the revenue to be $5.4 billion, showing a 69.1% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.32 per share and revenue of $20.35 billion, which would represent changes of +87.11% and +64.27%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Celestica. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Currently, Celestica is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Celestica is at present trading with a Forward P/E ratio of 34.2. This represents a premium compared to its industry average Forward P/E of 22.38.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest close session, Celestica (CLS - Free Report) was down 1.2% at $382.69. The stock trailed the S&P 500, which registered a daily gain of 0.66%. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 1.05%.
Heading into today, shares of the electronics manufacturing services company had gained 24% over the past month, outpacing the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 0.55%.
Investors will be eagerly watching for the performance of Celestica in its upcoming earnings disclosure. On that day, Celestica is projected to report earnings of $3.01 per share, which would represent year-over-year growth of 90.51%. Simultaneously, our latest consensus estimate expects the revenue to be $5.4 billion, showing a 69.1% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.32 per share and revenue of $20.35 billion, which would represent changes of +87.11% and +64.27%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Celestica. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Currently, Celestica is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Celestica is at present trading with a Forward P/E ratio of 34.2. This represents a premium compared to its industry average Forward P/E of 22.38.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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.