Celestica (CLS) Set to Announce Quarterly Earnings on Wednesday

Posted by Defense World Staff on Oct 18th, 2023

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) will issue its quarterly earnings data after the market closes on Wednesday, October 25th. Analysts expect the company to announce earnings of $0.61 per share for the quarter. Celestica has set its Q3 guidance at $0.56-0.62 EPS and its FY23 guidance at $2.25 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. Celestica had a net margin of 2.17% and a return on equity of 15.54%. Celestica’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, analysts expect Celestica to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Celestica Stock Up 1.7 %

Shares of Celestica stock opened at $27.27 on Wednesday. The company has a market cap of $3.25 billion, a P/E ratio of 19.76 and a beta of 2.10. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.63 and a current ratio of 1.43. Celestica has a one year low of $9.07 and a one year high of $27.58. The firm has a fifty day moving average of $23.33 and a two-hundred day moving average of $17.21.

Institutional Investors Weigh In On Celestica

Several hedge funds have recently modified their holdings of CLS. Norges Bank acquired a new stake in shares of Celestica during the 4th quarter worth about $11,360,000. Millennium Management LLC boosted its stake in shares of Celestica by 64.7% during the 4th quarter. Millennium Management LLC now owns 2,256,206 shares of the technology company’s stock worth $25,428,000 after purchasing an additional 885,919 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Celestica during the 2nd quarter worth about $10,445,000. Invesco Ltd. boosted its stake in shares of Celestica by 83.9% during the 1st quarter. Invesco Ltd. now owns 1,250,131 shares of the technology company’s stock worth $14,890,000 after purchasing an additional 570,424 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Celestica by 74.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,113,391 shares of the technology company’s stock worth $16,144,000 after purchasing an additional 476,512 shares during the last quarter. 71.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of analyst reports. CIBC upped their price objective on shares of Celestica from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday. TD Securities upped their price target on shares of Celestica from $23.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Royal Bank of Canada upped their price target on shares of Celestica from $22.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, October 5th. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Finally, Stifel Nicolaus upped their price target on shares of Celestica from $20.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and an average target price of $24.19.

View Our Latest Analysis on Celestica

About Celestica

(Get Free Report)

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through Advanced Technology Solutions, and Connectivity & Cloud Solutions segments. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.