In the latest trading session, Celestica (CLS) closed at $98.76, marking a +1.9% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.55%. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq added 1.24%.

Market participants will be closely following the financial results of Celestica in its upcoming release. The company is predicted to post an EPS of $1.04, indicating a 36.84% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.5 billion, reflecting a 16.65% rise from the equivalent quarter last year.

Investors should also pay attention to any latest changes in analyst estimates for Celestica. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Celestica holds a Zacks Rank of #3 (Hold).

Looking at valuation, Celestica is presently trading at a Forward P/E ratio of 21.85. For comparison, its industry has an average Forward P/E of 20.44, which means Celestica is trading at a premium to the group.

The Electronics - Manufacturing Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 176, placing it within the bottom 30% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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