Equities analysts expect that Celestica, Inc. (NYSE:CLS) (TSE:CLS) will report earnings per share of $0.30 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Celestica’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.31. Celestica posted earnings of $0.41 per share during the same quarter last year, which would indicate a negative year over year growth rate of 26.8%. The business is expected to announce its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Celestica will report full year earnings of $1.22 per share for the current fiscal year. For the next year, analysts forecast that the business will post earnings of $1.25 per share, with EPS estimates ranging from $1.20 to $1.29. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Celestica.
CLS has been the subject of several recent analyst reports. TD Securities reduced their target price on Celestica from $13.50 to $11.50 and set a “hold” rating for the company in a research report on Friday, October 27th. Scotiabank set a $15.00 target price on Celestica and gave the stock a “sector perform” rating in a research report on Wednesday, July 26th. BidaskClub cut Celestica from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Canaccord Genuity reiterated a “buy” rating on shares of Celestica in a report on Friday, July 28th. Finally, Royal Bank Of Canada cut their price objective on Celestica from $15.00 to $13.00 and set a “sector perform” rating for the company in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $13.93.
Celestica (NYSE CLS) traded up $0.11 during trading on Friday, reaching $10.74. The company had a trading volume of 881,878 shares, compared to its average volume of 822,067. Celestica has a twelve month low of $9.79 and a twelve month high of $14.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 2.01. The stock has a market capitalization of $1,343.43, a PE ratio of 10.23 and a beta of 0.68.
Celestica announced that its board has authorized a share repurchase plan on Thursday, October 26th that authorizes the company to repurchase 1,000% of shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLS. Royce & Associates LP lifted its stake in shares of 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 acquiring an additional 1,134,594 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Celestica by 2,226.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 917,634 shares of the technology company’s stock valued at $12,460,000 after acquiring an additional 878,187 shares during the last quarter. AJO LP lifted its stake in shares of Celestica by 87.8% in the 2nd quarter. AJO LP now owns 1,251,449 shares of the technology company’s stock valued at $16,995,000 after acquiring an additional 585,089 shares during the last quarter. TD Asset Management Inc. lifted its stake in shares of Celestica by 15.7% in the 3rd quarter. TD Asset Management Inc. now owns 2,960,857 shares of the technology company’s stock valued at $36,554,000 after acquiring an additional 402,217 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new stake in shares of Celestica in the 3rd quarter valued at about $4,181,000. 68.82% of the stock is owned by institutional investors.
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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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