Celestica, Inc. (NYSE:CLS) Receives Consensus Recommendation of “Hold” from Analysts
Celestica, Inc. (NYSE:CLS) (TSE:CLS) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $14.08.
A number of research analysts recently commented on the company. Macquarie downgraded Celestica from an “outperform” rating to a “neutral” rating in a report on Thursday, June 22nd. BidaskClub downgraded Celestica from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Bank of America Corporation assumed coverage on Celestica in a report on Thursday, June 15th. They issued a “neutral” rating and a $15.50 price target for the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $15.00 price target (up previously from $13.00) on shares of Celestica in a report on Sunday, April 23rd. Finally, BMO Capital Markets set a $16.00 price target on Celestica and gave the company a “hold” rating in a report on Thursday, April 20th.
Celestica (NYSE CLS) traded up 0.52% on Monday, reaching $13.45. The company had a trading volume of 474,645 shares. The company has a market capitalization of $1.92 billion, a PE ratio of 14.46 and a beta of 0.69. Celestica has a 52-week low of $10.16 and a 52-week high of $14.74. The company’s 50-day moving average is $13.71 and its 200-day moving average is $13.72.
Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Thursday, April 20th. The technology company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.45 billion. Celestica had a return on equity of 14.14% and a net margin of 2.18%. Celestica’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share. Equities analysts anticipate that Celestica will post $1.30 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in CLS. Cutler Group LP boosted its position in Celestica by 367.1% in the first quarter. Cutler Group LP now owns 7,557 shares of the technology company’s stock worth $109,000 after buying an additional 5,939 shares during the period. FMR LLC bought a new position in Celestica during the fourth quarter worth $153,000. Envestnet Asset Management Inc. boosted its position in Celestica by 16.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,678 shares of the technology company’s stock worth $155,000 after buying an additional 1,508 shares during the period. Yorktown Management & Research Co Inc bought a new position in Celestica during the first quarter worth $161,000. Finally, AXA bought a new position in Celestica during the first quarter worth $212,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.
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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