Analysts expect that Celestica, Inc. (NYSE:CLS) (TSE:CLS) will post $1.56 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Celestica’s earnings. The lowest sales estimate is $1.55 billion and the highest is $1.57 billion. Celestica posted sales of $1.62 billion in the same quarter last year, which suggests a negative year over year growth rate of 3.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, January 25th.
On average, analysts expect that Celestica will report full year sales of $1.56 billion for the current financial year, with estimates ranging from $6.11 billion to $6.12 billion. For the next fiscal year, analysts anticipate that the business will post sales of $6.21 billion per share, with estimates ranging from $6.19 billion to $6.24 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Celestica.
Several equities analysts have recently weighed in on CLS shares. Scotiabank set a $15.00 price objective on Celestica and gave the company a “sector perform” rating in a report on Wednesday, July 26th. BMO Capital Markets cut their price objective on Celestica from $14.50 to $13.40 and set a “market perform” rating on the stock in a report on Wednesday, July 26th. BidaskClub cut Celestica from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Canaccord Genuity reiterated a “buy” rating on shares of Celestica in a report on Friday, July 28th. Finally, Standpoint Research upgraded Celestica from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.93.
Celestica (NYSE CLS) traded up $0.14 during trading hours on Wednesday, hitting $10.04. The stock had a trading volume of 705,229 shares, compared to its average volume of 512,864. Celestica has a fifty-two week low of $9.79 and a fifty-two week high of $14.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.01 and a quick ratio of 1.15. The company has a market cap of $1,255.86, a PE ratio of 9.56 and a beta of 0.68.
Celestica announced that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that permits the company to repurchase 1,000% of outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
A number of institutional investors have recently made changes to their positions in the stock. Royce & Associates LP raised its position in Celestica by 67.5% in the 2nd quarter. Royce & Associates LP now owns 2,814,308 shares of the technology company’s stock valued at $38,218,000 after buying an additional 1,134,594 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Celestica by 11.1% during the 2nd quarter. TD Asset Management Inc. now owns 2,558,640 shares of the technology company’s stock worth $34,714,000 after purchasing an additional 255,400 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Celestica by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,479,906 shares of the technology company’s stock worth $33,677,000 after purchasing an additional 131,428 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Celestica by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,272,570 shares of the technology company’s stock worth $30,823,000 after purchasing an additional 26,526 shares during the last quarter. Finally, Cidel Asset Management Inc. increased its position in shares of Celestica by 2.3% during the 2nd quarter. Cidel Asset Management Inc. now owns 2,210,219 shares of the technology company’s stock worth $29,996,000 after purchasing an additional 50,000 shares during the last quarter. 59.60% of the stock is currently owned by institutional investors and hedge funds.
Celestica Company Profile
Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.
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