Analysts forecast that Celestica Inc (NYSE:CLS) (TSE:CLS) will announce sales of $1.45 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Celestica’s earnings, with the highest sales estimate coming in at $1.46 billion and the lowest estimate coming in at $1.43 billion. Celestica posted sales of $1.70 billion during the same quarter last year, which would indicate a negative year over year growth rate of 14.7%. The business is expected to announce its next quarterly earnings results on Tuesday, July 30th.
On average, analysts expect that Celestica will report full-year sales of $5.94 billion for the current financial year, with estimates ranging from $5.78 billion to $6.10 billion. For the next year, analysts anticipate that the firm will report sales of $5.87 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Celestica.
Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.04 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Celestica had a return on equity of 13.21% and a net margin of 2.67%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Canaccord Genuity downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. CIBC downgraded Celestica from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Royal Bank of Canada dropped their price objective on Celestica from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Finally, Beacon Securities downgraded Celestica from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.50 to $9.00 in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Celestica currently has an average rating of “Hold” and an average target price of $9.39.
Shares of CLS traded up $0.07 during mid-day trading on Friday, hitting $6.37. The company’s stock had a trading volume of 180,377 shares, compared to its average volume of 357,893. Celestica has a 1-year low of $6.17 and a 1-year high of $12.59. The stock has a market capitalization of $838.37 million, a P/E ratio of 9.10 and a beta of 0.78. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.81 and a quick ratio of 1.08.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beutel Goodman & Co Ltd. purchased a new position in Celestica during the first quarter worth $56,000. SEI Investments Co purchased a new position in Celestica during the first quarter worth $63,000. Squarepoint Ops LLC purchased a new position in Celestica during the fourth quarter worth $91,000. Citigroup Inc. increased its position in Celestica by 10,347.4% during the fourth quarter. Citigroup Inc. now owns 12,119 shares of the technology company’s stock worth $106,000 after buying an additional 12,003 shares in the last quarter. Finally, Gluskin Sheff & Assoc Inc. increased its position in Celestica by 100.2% during the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 22,700 shares of the technology company’s stock worth $199,000 after buying an additional 11,360 shares in the last quarter. 64.50% of the stock is owned by hedge funds and other institutional investors.
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. 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, asset management, product licensing, and after-market repair and return services.
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