Celestica, Inc. (CLS) Expected to Announce Earnings of $0.20 Per Share
Wall Street analysts expect that Celestica, Inc. (NYSE:CLS) (TSE:CLS) will announce $0.20 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Celestica’s earnings. Celestica reported earnings per share of $0.25 in the same quarter last year, which would suggest a negative year over year growth rate of 20%. The company is expected to announce its next quarterly earnings results on Thursday, July 20th.
According to Zacks, analysts expect that Celestica will report full-year earnings of $0.79 per share for the current financial year. For the next fiscal year, analysts forecast that the firm will post earnings of $0.91 per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Celestica.
Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Thursday, April 20th. The technology company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. Celestica had a net margin of 2.18% and a return on equity of 14.14%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $0.26 EPS. The company’s revenue was up 8.6% on a year-over-year basis.
Several analysts recently issued reports on the stock. Macquarie cut shares of Celestica from an “outperform” rating to a “neutral” rating in a report on Thursday, June 22nd. BidaskClub cut shares of Celestica from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Bank of America Corporation started coverage on shares of Celestica in a report on Thursday, June 15th. They set a “neutral” rating and a $15.50 target price on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $15.00 target price (up from $13.00) on shares of Celestica in a report on Sunday, April 23rd. Finally, BMO Capital Markets set a $16.00 target price on shares of Celestica and gave the stock a “hold” rating in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. Celestica has a consensus rating of “Hold” and a consensus target price of $14.16.
Several hedge funds have recently modified their holdings of CLS. Norges Bank purchased a new position in Celestica during the fourth quarter valued at approximately $22,977,000. Royce & Associates LP purchased a new position in Celestica during the first quarter valued at approximately $24,406,000. Goldman Sachs Group Inc. raised its position in Celestica by 101.2% in the first quarter. Goldman Sachs Group Inc. now owns 979,959 shares of the technology company’s stock valued at $14,239,000 after buying an additional 492,964 shares in the last quarter. Morgan Stanley raised its position in Celestica by 34.4% in the first quarter. Morgan Stanley now owns 1,635,437 shares of the technology company’s stock valued at $23,763,000 after buying an additional 418,774 shares in the last quarter. Finally, Spark Investment Management LLC raised its position in Celestica by 428.0% in the first quarter. Spark Investment Management LLC now owns 264,000 shares of the technology company’s stock valued at $3,833,000 after buying an additional 214,000 shares in the last quarter. 61.48% of the stock is currently owned by institutional investors.
Shares of Celestica (NYSE CLS) traded down 0.15% on Tuesday, reaching $13.56. 160,716 shares of the company’s stock traded hands. The company has a 50 day moving average of $13.84 and a 200-day moving average of $13.52. The stock has a market capitalization of $1.94 billion, a PE ratio of 14.58 and a beta of 0.69. Celestica has a 52 week low of $8.83 and a 52 week high of $14.74.
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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