Wall Street brokerages expect Celestica Inc (NYSE:CLS) (TSE:CLS) to announce sales of $1.56 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Celestica’s earnings, with the lowest sales estimate coming in at $1.55 billion and the highest estimate coming in at $1.57 billion. Celestica reported sales of $1.62 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The firm is scheduled to issue its next earnings results 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 forecast that the business will report sales of $6.21 billion per share, with estimates ranging from $6.19 billion to $6.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Celestica.
CLS has been the topic of several analyst reports. TD Securities dropped their target price on Celestica from $13.50 to $11.50 and set a “hold” rating on the stock in a report on Friday, October 27th. Royal Bank of Canada dropped their target price on Celestica from $15.00 to $13.00 and set a “sector perform” rating on the stock in a report on Friday, October 27th. Canaccord Genuity restated a “buy” rating and set a $14.00 price objective on shares of Celestica in a research note on Friday, October 27th. TheStreet lowered Celestica from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Finally, ValuEngine lowered Celestica from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Celestica currently has an average rating of “Hold” and a consensus target price of $13.93.
Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board grew its position in shares of Celestica by 162.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 352,526 shares of the technology company’s stock worth $4,352,000 after acquiring an additional 218,356 shares in the last quarter. Bank of Nova Scotia boosted its position in Celestica by 100.9% during the 2nd quarter. Bank of Nova Scotia now owns 35,283 shares of the technology company’s stock valued at $479,000 after purchasing an additional 17,723 shares during the period. Vanguard Group Inc. boosted its position in Celestica by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,479,906 shares of the technology company’s stock valued at $33,677,000 after purchasing an additional 131,428 shares during the period. JPMorgan Chase & Co. boosted its position in Celestica by 2,226.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 917,634 shares of the technology company’s stock valued at $12,460,000 after purchasing an additional 878,187 shares during the period. Finally, OxFORD Asset Management LLP boosted its position in Celestica by 12.0% during the 3rd quarter. OxFORD Asset Management LLP now owns 207,549 shares of the technology company’s stock valued at $2,582,000 after purchasing an additional 22,260 shares during the period. Institutional investors own 68.51% of the company’s stock.
Shares of Celestica (NYSE:CLS) opened at $11.03 on Friday. The company has a market capitalization of $1,580.00, a PE ratio of 14.32 and a beta of 0.72. The company has a current ratio of 2.01, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13. Celestica has a twelve month low of $9.79 and a twelve month high of $14.74.
Celestica declared that its Board of Directors has approved a stock repurchase program on Thursday, October 26th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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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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