Celestica (CLS) Exceeds Market Returns: Some Facts to Consider
The stock of electronics manufacturing services company has risen by 29.19% in the past month, leading the Computer and Technology sector's gain of 8.25% and the S&P 500's gain of 4.99%.
Market participants will be closely following the financial results of Celestica in its upcoming release. On that day, Celestica is projected to report earnings of $1.23 per share, which would represent year-over-year growth of 35.16%. Simultaneously, our latest consensus estimate expects the revenue to be $2.65 billion, showing a 10.95% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.05 per share and revenue of $10.91 billion. These totals would mark changes of +30.15% and +13.15%, respectively, from last 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 business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Celestica holds a Zacks Rank of #3 (Hold).
In the context of valuation, Celestica is at present trading with a Forward P/E ratio of 30.65. For comparison, its industry has an average Forward P/E of 21.91, which means Celestica is trading at a premium to the group.
The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 42, positioning it in the top 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.
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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