Celestica (CLS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Zacks.com users have recently been watching Celestica (CLS) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Celestica (CLS) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Celestica stock popped after its Q3 earnings release in post-market trading. Despite a decline in its ATS segment, Celestica's upgraded 2024 outlook and AI infrastructure demand support its bullish thesis. A revenue slowdown from 2025 could pan out, but CLS is targeting higher-value businesses, possibly lifting its profitability.
CLS' reports healthy third-quarter results driven by stronger-than-expected growth in the CCS segment.
After reaching an important support level, Celestica (CLS) could be a good stock pick from a technical perspective. CLS surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
Celestica Inc. (NYSE:CLS ) Q3 2024 Earnings Call and Virtual Investor Meeting Conference Call October 23, 2024 5:00 PM ET Company Participants Craig Oberg – Vice President of Corporate Development and Investor Relations Rob Mionis – President and Chief Executive Officer Mandeep Chawla – Chief Financial Officer Jason Phillips – President, Connectivity and Cloud Solutions Todd Cooper – President, Advanced Technology Solutions Steven Dorwart – Senior Vice President, Hyperscalers and Service Provider Conference Call Participants Daniel Chan – TD Cowen Robert Young – Canaccord Genuity Matt Sheerin – Stifel Thanos Moschopoulos – BMO Capital Markets Steven Fox – Fox Advisors Jesse Pytlak – Cormark Paul Treiber – RBC Capital Markets Todd Coupland – CIBC Operator Good afternoon, ladies and gentlemen, and welcome to the Celestica Q3 2024 Earnings Call and Virtual Investor Meeting Conference Call. At this time all lines are in listen-only mode.
Celestica (CLS) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $0.65 per share a year ago.
Celestica (CLS) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Celestica (CLS) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
Celestica is expected to benefit from favorable secular trends across its portfolio and an increasing generative AI boom.