Yahoo Finance Celestica (CLS) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Celestica (CLS) ended the recent trading session at $43.81, demonstrating a -1.82% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a rise of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.52%.
Heading into today, shares of the electronics manufacturing services company had gained 1.29% over the past month, outpacing the Computer and Technology sector's loss of 1.64% and the S&P 500's loss of 1.66% in that time.
The investment community will be closely monitoring the performance of Celestica in its forthcoming earnings report. The company is scheduled to release its earnings on April 24, 2024. In that report, analysts expect Celestica to post earnings of $0.72 per share. This would mark year-over-year growth of 53.19%. Meanwhile, our latest consensus estimate is calling for revenue of $2.1 billion, up 14.25% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.91 per share and a revenue of $8.74 billion, representing changes of +19.75% and +9.77%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Celestica. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Celestica is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Celestica is holding a Forward P/E ratio of 15.33. This valuation marks a discount compared to its industry's average Forward P/E of 15.37.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 225, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Celestica, Inc. (CLS) : Free Stock Analysis Report
