Celestica Inc (CLS) Expected to Announce Earnings of $0.30 Per Share
Wall Street analysts expect that Celestica Inc (NYSE:CLS) (TSE:CLS) will post earnings of $0.30 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Celestica’s earnings, with estimates ranging from $0.30 to $0.31. Celestica reported earnings per share of $0.41 during the same quarter last year, which suggests a negative year over year growth rate of 26.8%. The firm is expected to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Celestica will report full-year earnings of $1.22 per share for the current year. For the next financial year, analysts forecast that the firm will post earnings of $1.25 per share, with EPS estimates ranging from $1.20 to $1.29. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Celestica.
A number of analysts recently issued reports on CLS shares. Standpoint Research raised 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. TD Securities lowered 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, October 27th. Royal Bank Of Canada lowered their target price on Celestica from $15.00 to $13.00 and set a “sector perform” rating for the company in a research note on Friday, October 27th. Canaccord Genuity reissued a “buy” rating and set a $14.00 target price on shares of Celestica in a research note on Friday, October 27th. Finally, TheStreet cut Celestica from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $13.93.
Celestica declared that its board has authorized a share repurchase program on Thursday, October 26th that permits the company to buyback 1,000% of shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its holdings in shares of Celestica by 67.5% in the 2nd quarter. Royce & Associates LP now owns 2,814,308 shares of the technology company’s stock valued at $38,218,000 after buying an additional 1,134,594 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Celestica by 2,226.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 917,634 shares of the technology company’s stock valued at $12,460,000 after buying an additional 878,187 shares during the last quarter. AJO LP boosted its holdings in shares of Celestica by 87.8% in the 2nd quarter. AJO LP now owns 1,251,449 shares of the technology company’s stock valued at $16,995,000 after buying an additional 585,089 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Celestica by 15.7% in the 3rd quarter. TD Asset Management Inc. now owns 2,960,857 shares of the technology company’s stock valued at $36,554,000 after buying an additional 402,217 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in shares of Celestica in the 3rd quarter valued at approximately $4,181,000. 68.51% of the stock is owned by hedge funds and other institutional investors.
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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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