Celestica (CLS) Falls More Steeply Than Broader Market: What Investors Need to Know
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Celestica (CLS) closed the most recent trading day at $265.80, moving -1.26% from the previous trading session. This change lagged the S&P 500's 0.08% loss on the day. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq added 0.08%. Heading into today, shares of the electronics manufacturing services company had lost 9.64% over the past month, lagging the Computer and Technology sector's loss of 2.38% and the S&P 500's loss of 2.16%.Investors will be eagerly watching for the performance of Celestica in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.07, signifying a 72.50% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4 billion, reflecting a 51.16% rise from the equivalent quarter last year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.83 per share and a revenue of $17.03 billion, indicating changes of +45.95% and +37.42%, respectively, from the former year. It is also important to note the recent changes to analyst estimates for Celestica. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Celestica holds a Zacks Rank of #2 (Buy). With respect to valuation, Celestica is currently being traded at a Forward P/E ratio of 30.49. This indicates a premium in contrast to its industry's Forward P/E of 23.4. The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 7, finds itself in the top 3% echelons 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. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>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
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