Analysts Expect Celestica Inc (CLS) Will Post Quarterly Sales of $1.53 Billion
Analysts expect Celestica Inc (NYSE:CLS) (TSE:CLS) to post $1.53 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Celestica’s earnings, with the highest sales estimate coming in at $1.55 billion and the lowest estimate coming in at $1.5 billion. Celestica reported sales of $1.49 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.7%. The company is expected to issue its next earnings results on Thursday, July 20th.
On average, analysts expect that Celestica will report full-year sales of $1.53 billion for the current year, with estimates ranging from $6.22 billion to $6.27 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $6.47 billion per share, with estimates ranging from $6.39 billion to $6.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Celestica.
Celestica (NYSE:CLS) last posted its earnings results on Thursday, April 20th. The technology company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Celestica had a net margin of 2.27% and a return on equity of 14.03%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis.
A number of equities analysts have recently weighed in on the company. Scotiabank reiterated a “sector perform” rating and issued a $15.00 target price on shares of Celestica in a report on Friday, April 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 target price (up previously from $13.00) on shares of Celestica in a report on Sunday, April 23rd. TD Securities upped their target price on Celestica from $12.00 to $13.50 and gave the company a “hold” rating in a report on Friday, April 21st. BMO Capital Markets set a $16.00 target price on Celestica and gave the company a “hold” rating in a report on Thursday, April 20th. Finally, Stifel Nicolaus upped their target price on Celestica from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, January 27th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.03.
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Celestica (NYSE:CLS) opened at 13.98 on Friday. Celestica has a 12-month low of $8.83 and a 12-month high of $14.74. The stock has a market capitalization of $2.00 billion, a P/E ratio of 15.03 and a beta of 1.01. The firm’s 50-day moving average is $14.27 and its 200 day moving average is $13.11.
Several large investors have recently made changes to their positions in CLS. Cutler Group LP boosted its stake in shares of Celestica by 367.1% in the first quarter. Cutler Group LP now owns 7,557 shares of the technology company’s stock valued at $109,000 after buying an additional 5,939 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Celestica during the fourth quarter valued at approximately $131,000. CSS LLC IL boosted its stake in shares of Celestica by 55.2% in the third quarter. CSS LLC IL now owns 12,646 shares of the technology company’s stock valued at $137,000 after buying an additional 4,500 shares during the last quarter. FMR LLC purchased a new stake in shares of Celestica during the fourth quarter valued at approximately $153,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Celestica by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,678 shares of the technology company’s stock valued at $155,000 after buying an additional 1,508 shares during the last quarter. 71.79% of the stock is 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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