Celestica, Inc. (CLS) Receives Average Recommendation of “Hold” from Brokerages
Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) have received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.89.
A number of equities research analysts have recently issued reports on the stock. Standpoint Research raised shares of Celestica from a “hold” rating to a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating on shares of Celestica in a research note on Friday, July 28th. BidaskClub cut shares of Celestica from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. BMO Capital Markets cut their price objective on shares of Celestica from $14.50 to $13.40 and set a “market perform” rating for the company in a research note on Wednesday, July 26th. Finally, Scotiabank set a $15.00 price objective on shares of Celestica and gave the company a “sector perform” rating in a research note on Wednesday, July 26th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Stevens Capital Management LP bought a new position in shares of Celestica during the second quarter valued at approximately $140,000. Dynamic Technology Lab Private Ltd raised its position in shares of Celestica by 5.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock valued at $149,000 after buying an additional 579 shares during the period. FMR LLC bought a new position in shares of Celestica during the fourth quarter valued at approximately $153,000. Envestnet Asset Management Inc. raised its position 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 period. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Celestica during the first quarter valued at approximately $161,000. Institutional investors and hedge funds own 61.92% of the company’s stock.
Celestica (NYSE CLS) traded down 1.13% during trading on Friday, hitting $11.41. 287,684 shares of the stock traded hands. The company has a 50-day moving average price of $12.64 and a 200-day moving average price of $13.60. The stock has a market cap of $1.63 billion, a PE ratio of 12.40 and a beta of 0.66. Celestica has a 12 month low of $10.16 and a 12 month high of $14.74.
Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.08. Celestica had a net margin of 2.12% and a return on equity of 13.64%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the company posted $0.29 EPS. Celestica’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts expect that Celestica will post $1.27 EPS for the current year.
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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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