BMO Capital Markets Trims Celestica, Inc. (NYSE:CLS) Target Price to $13.40
Celestica, Inc. (NYSE:CLS) (TSE:CLS) had its price target decreased by equities researchers at BMO Capital Markets from $14.50 to $13.40 in a note issued to investors on Wednesday. The firm currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price points to a potential upside of 5.43% from the stock’s previous close.
Several other equities analysts have also issued reports on the stock. BidaskClub lowered shares of Celestica from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Bank of America Corporation initiated coverage on shares of Celestica in a report on Thursday, June 15th. They issued a “neutral” rating and a $15.50 price target on the stock. Macquarie lowered shares of Celestica from an “outperform” rating to a “neutral” rating in a report on Thursday, June 22nd. TD Securities lifted their price target on shares of Celestica from $12.00 to $13.50 and gave the stock a “hold” rating in a report on Friday, April 21st. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $15.00 price target on shares of Celestica in a report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Celestica presently has an average rating of “Hold” and an average price target of $13.92.
Celestica (NYSE CLS) traded down 5.43% during trading on Wednesday, reaching $12.71. The company had a trading volume of 1,338,501 shares. The stock has a 50 day moving average of $13.71 and a 200-day moving average of $13.72. The stock has a market capitalization of $1.58 billion, a P/E ratio of 12.97 and a beta of 0.69. Celestica has a 12-month low of $10.16 and a 12-month high of $14.74.
Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. Celestica had a net margin of 2.18% and a return on equity of 14.14%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts forecast that Celestica will post $1.30 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in Celestica by 2.4% in the first quarter. Acadian Asset Management LLC now owns 2,741,936 shares of the technology company’s stock valued at $39,761,000 after buying an additional 64,900 shares during the last quarter. Vanguard Group Inc. increased its stake in Celestica by 4.2% in the first quarter. Vanguard Group Inc. now owns 2,348,478 shares of the technology company’s stock valued at $34,123,000 after buying an additional 94,548 shares during the last quarter. Norges Bank bought a new stake in Celestica during the fourth quarter valued at approximately $22,977,000. Royce & Associates LP bought a new stake in Celestica during the first quarter valued at approximately $24,406,000. Finally, Morgan Stanley increased its stake 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 during the last quarter. Institutional investors and hedge funds 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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