$1.47 Billion in Sales Expected for Celestica Inc (CLS) This Quarter

Equities research analysts expect Celestica Inc (NYSE:CLS) (TSE:CLS) to post $1.47 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Celestica’s earnings. Celestica also reported sales of $1.47 billion in the same quarter last year. The business is expected to announce its next earnings report on Thursday, April 19th.

On average, analysts expect that Celestica will report full-year sales of $1.47 billion for the current fiscal year, with estimates ranging from $6.20 billion to $6.25 billion. For the next year, analysts anticipate that the business will post sales of $6.45 billion per share. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Celestica.

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

Several research analysts have recently issued reports on CLS shares. Canaccord Genuity restated a “buy” rating and issued a $13.00 price target on shares of Celestica in a research report on Thursday, January 25th. Beacon Securities restated a “buy” rating on shares of Celestica in a research report on Monday, January 29th. TheStreet lowered Celestica from a “b” rating to a “c+” rating in a research report on Thursday, November 9th. ValuEngine lowered Celestica from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, TD Securities reduced their price target on Celestica from $11.50 to $11.00 and set a “hold” rating on the stock in a research report 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 issued a buy rating to the stock. Celestica currently has an average rating of “Hold” and an average target price of $13.36.

Celestica (NYSE:CLS) opened at $10.66 on Thursday. Celestica has a 12-month low of $9.79 and a 12-month high of $14.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.10. The stock has a market capitalization of $1,530.00, a price-to-earnings ratio of 14.81 and a beta of 0.71.

Celestica announced that its Board of Directors has approved a stock 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 buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

A number of institutional investors have recently modified their holdings of CLS. Brandes Investment Partners LP acquired a new stake in Celestica during the 4th quarter worth $38,239,000. Burgundy Asset Management Ltd. acquired a new stake in Celestica during the 4th quarter worth $10,769,000. Royce & Associates LP raised its stake in Celestica by 27.5% during the 4th quarter. Royce & Associates LP now owns 3,961,789 shares of the technology company’s stock worth $41,520,000 after buying an additional 854,186 shares during the period. Donald Smith & CO. Inc. raised its stake in Celestica by 25.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,443,245 shares of the technology company’s stock worth $36,085,000 after buying an additional 706,521 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Celestica by 16.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,271,532 shares of the technology company’s stock worth $34,286,000 after buying an additional 460,294 shares during the period. 66.80% of the stock is currently owned by institutional investors and hedge funds.

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Celestica Company Profile

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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