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Why Celestica (CLS) Dipped More Than Broader Market Today September 18, 2024
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Celestica (CLS - Free Report) ended the recent trading session at $46.83, demonstrating a -0.34% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.31%.
The electronics manufacturing services company's shares have seen a decrease of 13.03% over the last month, not keeping up with the Computer and Technology sector's loss of 1.17% and the S&P 500's gain of 1.57%.
The investment community will be closely monitoring the performance of Celestica in its forthcoming earnings report. In that report, analysts expect Celestica to post earnings of $0.92 per share. This would mark year-over-year growth of 41.54%. Meanwhile, our latest consensus estimate is calling for revenue of $2.41 billion, up 18.01% from the prior-year quarter.
CLS's full-year Zacks Consensus Estimates are calling for earnings of $3.65 per share and revenue of $9.47 billion. These results would represent year-over-year changes of +50.21% and +18.93%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Celestica currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Celestica is holding a Forward P/E ratio of 12.87. This signifies a discount in comparison to the average Forward P/E of 12.97 for its industry.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 209, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Celestica (CLS - Free Report) ended the recent trading session at $46.83, demonstrating a -0.34% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.31%.
The electronics manufacturing services company's shares have seen a decrease of 13.03% over the last month, not keeping up with the Computer and Technology sector's loss of 1.17% and the S&P 500's gain of 1.57%.
The investment community will be closely monitoring the performance of Celestica in its forthcoming earnings report. In that report, analysts expect Celestica to post earnings of $0.92 per share. This would mark year-over-year growth of 41.54%. Meanwhile, our latest consensus estimate is calling for revenue of $2.41 billion, up 18.01% from the prior-year quarter.
CLS's full-year Zacks Consensus Estimates are calling for earnings of $3.65 per share and revenue of $9.47 billion. These results would represent year-over-year changes of +50.21% and +18.93%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Celestica currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Celestica is holding a Forward P/E ratio of 12.87. This signifies a discount in comparison to the average Forward P/E of 12.97 for its industry.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 209, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.