Equities research analysts forecast that Celestica, Inc. (NYSE:CLS) (TSE:CLS) will post earnings per share (EPS) of $0.35 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Celestica’s earnings, with estimates ranging from $0.34 to $0.35. Celestica posted earnings per share of $0.41 in the same quarter last year, which would suggest a negative year over year growth rate of 14.6%. The company is expected to report its next earnings results on Thursday, October 26th.

According to Zacks, analysts expect that Celestica will report full year earnings of $1.26 per share for the current fiscal year, with EPS estimates ranging from $1.26 to $1.27. For the next year, analysts anticipate that the business will post earnings of $1.34 per share, with EPS estimates ranging from $1.29 to $1.37. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Celestica.

Several research firms recently weighed in on CLS. Standpoint Research upgraded Celestica from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating on shares of Celestica in a research note on Friday, July 28th. BMO Capital Markets decreased their target price on Celestica from $14.50 to $13.40 and set a “market perform” rating for the company in a research note on Wednesday, July 26th. Scotiabank set a $15.00 target price on Celestica and gave the stock a “sector perform” rating in a research note on Wednesday, July 26th. Finally, TD Securities decreased their target price on Celestica from $13.50 to $11.50 and set a “hold” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $13.93.

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Large investors have recently added to or reduced their stakes in the company. NorthCoast Asset Management LLC acquired a new position in shares of Celestica in the second quarter valued at approximately $1,885,000. Renaissance Group LLC increased its holdings in shares of Celestica by 8.4% in the second quarter. Renaissance Group LLC now owns 29,261 shares of the technology company’s stock valued at $397,000 after purchasing an additional 2,278 shares during the period. KCG Holdings Inc. increased its holdings in shares of Celestica by 26.2% in the first quarter. KCG Holdings Inc. now owns 24,769 shares of the technology company’s stock valued at $360,000 after purchasing an additional 5,137 shares during the period. UBS Group AG increased its holdings in shares of Celestica by 34.6% in the first quarter. UBS Group AG now owns 98,357 shares of the technology company’s stock valued at $1,429,000 after purchasing an additional 25,257 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Celestica by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 590,017 shares of the technology company’s stock valued at $8,573,000 after purchasing an additional 26,062 shares during the period. 59.60% of the stock is currently owned by institutional investors and hedge funds.

Celestica (NYSE:CLS) opened at 10.78 on Monday. The company has a 50 day moving average of $12.33 and a 200 day moving average of $12.99. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 11.72 and a beta of 0.71. Celestica has a 12 month low of $10.46 and a 12 month high of $14.74.

Celestica declared that its board has initiated a share buyback plan on Thursday, October 26th that authorizes the company to repurchase 1,000% of outstanding shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About Celestica

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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