Celestica (CLS) Outperforms Broader Market: What You Need to Know

Celestica (CLS) ended the recent trading session at $130.73, demonstrating a +2.38% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.38%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.24%. The electronics manufacturing services company's stock has climbed by 12.55% in the past month, exceeding the Computer and Technology sector's gain of 11.61% and the S&P 500's gain of 6.6%.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 $1.23 per share, which would represent year-over-year growth of 35.16%. Alongside, our most recent consensus estimate is anticipating revenue of $2.65 billion, indicating a 10.95% upward movement from the same quarter last year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.05 per share and a revenue of $10.91 billion, signifying shifts of +30.15% and +13.15%, respectively, from the last year. Investors should also note any recent changes to analyst estimates for Celestica. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Celestica is currently sporting a Zacks Rank of #3 (Hold). In terms of valuation, Celestica is currently trading at a Forward P/E ratio of 25.27. For comparison, its industry has an average Forward P/E of 19.72, which means Celestica is trading at a premium to the group. The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 203, putting it in the bottom 18% of all 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. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Celestica, Inc. (CLS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks