Zacks: Analysts Anticipate Celestica, Inc. (NYSE:CLS) Will Announce Quarterly Sales of $1.53 Billion
Equities analysts expect Celestica, Inc. (NYSE:CLS) (TSE:CLS) to report sales of $1.53 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Celestica’s earnings, with the highest sales estimate coming in at $1.55 billion and the lowest estimate coming in at $1.50 billion. Celestica reported sales of $1.49 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The company is expected to report its next earnings results after the market closes on Tuesday, July 25th.
On average, analysts expect that Celestica will report full year sales of $1.53 billion for the current fiscal year, with estimates ranging from $6.22 billion to $6.27 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.47 billion per share, with estimates ranging from $6.39 billion to $6.55 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Celestica.
Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly 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 return on equity of 14.14% and a net margin of 2.18%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis.
A number of research analysts have recently weighed in on CLS shares. BMO Capital Markets set a $16.00 price objective on Celestica and gave the company a “hold” rating in a research report on Thursday, April 20th. TD Securities lifted their price objective on Celestica from $12.00 to $13.50 and gave the company a “hold” rating in a research report on Friday, April 21st. Macquarie cut Celestica from an “outperform” rating to a “neutral” rating in a research report on Thursday, June 22nd. Bank of America Corporation started coverage on Celestica in a research report on Thursday, June 15th. They set a “neutral” rating and a $15.50 price objective on the stock. Finally, Citigroup Inc. raised Celestica from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $11.50 to $15.00 in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.16.
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Shares of Celestica (NYSE:CLS) opened at 13.36 on Thursday. The stock’s 50 day moving average price is $13.84 and its 200 day moving average price is $13.52. Celestica has a 12 month low of $8.83 and a 12 month high of $14.74. The company has a market capitalization of $1.91 billion, a PE ratio of 14.37 and a beta of 0.69.
Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Celestica during the fourth quarter valued at about $22,977,000. Royce & Associates LP acquired a new stake in shares of Celestica during the first quarter valued at about $24,406,000. Goldman Sachs Group Inc. increased its stake in shares of 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 during the period. Morgan Stanley increased its stake in shares of 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 during the period. Finally, Spark Investment Management LLC increased its stake in shares of 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 during the period. 61.48% of the stock is currently owned by institutional investors.
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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