Brokerages Expect Celestica Inc (CLS) Will Announce Quarterly Sales of $1.72 Billion

Wall Street brokerages expect Celestica Inc (NYSE:CLS) (TSE:CLS) to post $1.72 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Celestica’s earnings. The highest sales estimate is $1.74 billion and the lowest is $1.69 billion. Celestica posted sales of $1.55 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 11%. The firm is expected to report its next earnings results on Wednesday, January 23rd.

On average, analysts expect that Celestica will report full year sales of $6.62 billion for the current financial year, with estimates ranging from $6.59 billion to $6.65 billion. For the next financial year, analysts anticipate that the business will post sales of $6.47 billion, with estimates ranging from $6.44 billion to $6.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Celestica.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.14. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. Celestica had a return on equity of 4.03% and a net margin of 0.82%.

A number of research analysts have weighed in on the company. TD Securities raised their price objective on Celestica from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Beacon Securities downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. BMO Capital Markets set a $12.00 target price on Celestica and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Celestica from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. Finally, Macquarie raised Celestica from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.40.

CLS stock traded down $0.39 during midday trading on Wednesday, reaching $10.31. The stock had a trading volume of 293,540 shares, compared to its average volume of 793,279. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.10 and a current ratio of 1.79. The firm has a market capitalization of $1.46 billion, a P/E ratio of 14.32, a PEG ratio of 6.73 and a beta of 0.59. Celestica has a 52-week low of $9.10 and a 52-week high of $12.59.

Several large investors have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. increased its position in shares of Celestica by 0.4% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 20,574,088 shares of the technology company’s stock worth $222,676,000 after purchasing an additional 86,125 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Celestica by 21.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,921,575 shares of the technology company’s stock worth $53,301,000 after purchasing an additional 869,805 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Celestica by 51.6% during the 3rd quarter. Pzena Investment Management LLC now owns 4,255,292 shares of the technology company’s stock worth $46,085,000 after purchasing an additional 1,448,143 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Celestica by 5.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,001,630 shares of the technology company’s stock worth $32,539,000 after purchasing an additional 150,273 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Celestica by 52.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,262,544 shares of the technology company’s stock worth $24,487,000 after purchasing an additional 781,323 shares during the last quarter. 65.56% of the stock is owned by hedge funds and other institutional investors.

Celestica Company Profile

Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. The company offers a range of services, including design and development, engineering, 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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