Wall Street analysts forecast that Celestica Inc (NYSE:CLS) (TSE:CLS) will post sales of $1.72 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Celestica’s earnings, with the lowest sales estimate coming in at $1.69 billion and the highest estimate coming in at $1.74 billion. Celestica posted sales of $1.55 billion during the same quarter last year, which suggests a positive year over year growth rate of 11%. The business is expected to announce its next earnings report on Wednesday, January 23rd.
According to Zacks, analysts expect that Celestica will report full year sales of $6.62 billion for the current financial year, with estimates ranging from $6.59 billion to $6.65 billion. For the next financial year, analysts anticipate that the business will report sales of $6.47 billion, with estimates ranging from $6.44 billion to $6.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Celestica.
Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.14. Celestica had a net margin of 0.82% and a return on equity of 4.03%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion.
CLS has been the topic of a number of recent analyst reports. TheStreet cut shares of Celestica from a “b-” rating to a “c+” rating in a report on Thursday, October 25th. Macquarie upgraded shares of Celestica from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 10th. Zacks Investment Research downgraded shares of Celestica from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. Beacon Securities upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research report on Wednesday, October 10th. Finally, BMO Capital Markets set a $12.00 price objective on shares of Celestica and gave the company a “hold” rating in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.40.
Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Celestica during the third quarter valued at approximately $230,000. Renaissance Technologies LLC bought a new position in Celestica during the second quarter valued at approximately $298,000. CLARET ASSET MANAGEMENT Corp raised its position in Celestica by 21.3% in the third quarter. CLARET ASSET MANAGEMENT Corp now owns 35,751 shares of the technology company’s stock worth $387,000 after acquiring an additional 6,286 shares during the period. Citadel Advisors LLC bought a new position in Celestica in the third quarter worth approximately $437,000. Finally, Shell Asset Management Co. raised its position in Celestica by 291.8% in the third quarter. Shell Asset Management Co. now owns 42,402 shares of the technology company’s stock worth $459,000 after acquiring an additional 31,580 shares during the period. Institutional investors own 68.87% of the company’s stock.
NYSE:CLS opened at $10.30 on Friday. Celestica has a 52 week low of $9.10 and a 52 week high of $12.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.10 and a current ratio of 1.79. The company has a market cap of $1.38 billion, a PE ratio of 14.31, a PEG ratio of 6.37 and a beta of 0.59.
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. The company offers a range of services, including design and development, engineering, 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.
Recommended Story: Buyback For Investors Defined
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Celestica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celestica and related companies with MarketBeat.com's FREE daily email newsletter.