Zacks: Analysts Expect Celestica Inc (CLS) to Post $0.23 EPS

Equities analysts expect Celestica Inc (NYSE:CLS) (TSE:CLS) to post earnings of $0.23 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Celestica’s earnings. Celestica posted earnings per share of $0.29 in the same quarter last year, which would suggest a negative year-over-year growth rate of 20.7%. The firm is scheduled to issue its next quarterly earnings report on Thursday, April 19th.

On average, analysts expect that Celestica will report full year earnings of $1.16 per share for the current fiscal year, with EPS estimates ranging from $1.11 to $1.26. For the next year, analysts expect that the company will post earnings of $1.28 per share. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Celestica.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.10). Celestica had a net margin of 1.72% and a return on equity of 8.84%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion.

A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Celestica from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 1st. Beacon Securities reiterated a “buy” rating on shares of Celestica in a research note on Monday, January 29th. TD Securities reduced their price objective on shares of Celestica from $11.50 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, January 25th. Stifel Nicolaus reduced their price objective on shares of Celestica from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, January 25th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $13.00 price objective on shares of Celestica in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.36.

Celestica (CLS) traded down $0.07 during midday trading on Tuesday, reaching $10.46. 790,941 shares of the company’s stock were exchanged, compared to its average volume of 1,167,447. Celestica has a 12-month low of $9.79 and a 12-month high of $14.74. The company has a quick ratio of 1.10, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The company has a market cap of $1,510.00, a P/E ratio of 14.53 and a beta of 0.71.

Celestica announced that its Board of Directors has authorized a share buyback program on Thursday, October 26th that allows the company to buyback 1,000% of outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Large investors have recently modified their holdings of the business. Investors Research Corp acquired a new stake in shares of Celestica during the fourth quarter worth $128,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Celestica by 5.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock worth $149,000 after purchasing an additional 579 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Celestica during the fourth quarter worth $200,000. Ramsey Quantitative Systems acquired a new stake in shares of Celestica during the fourth quarter worth $278,000. Finally, FineMark National Bank & Trust acquired a new stake in shares of Celestica during the third quarter worth $307,000. 66.80% of the stock is currently owned by institutional investors.

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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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