Celestica (NYSE:CLS) Updates Q2 2022 Earnings Guidance

Celestica (NYSE:CLSGet Rating) (TSE:CLS) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.38-$0.44 for the period. The company issued revenue guidance of $1.57 billion-$1.73 billion.Celestica also updated its FY 2022 guidance to $1.60-$1.75 EPS.

A number of research firms have recently issued reports on CLS. TD Securities lifted their price objective on shares of Celestica from $12.50 to $13.00 and gave the stock a hold rating in a report on Monday, May 2nd. Royal Bank of Canada lifted their target price on shares of Celestica from $11.00 to $13.00 and gave the company a sector perform rating in a research note on Friday, January 28th. Canaccord Genuity Group upped their target price on shares of Celestica from $12.00 to $13.50 in a research note on Friday, January 28th. Canaccord Genuity Group upped their target price on shares of Celestica from $12.00 to $13.50 in a report on Friday, January 28th. Finally, StockNews.com upgraded shares of Celestica from a buy rating to a strong-buy rating in a research report on Thursday, April 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $12.42.

Shares of CLS stock traded up $0.19 during trading hours on Tuesday, hitting $10.21. The stock had a trading volume of 3,886 shares, compared to its average volume of 653,803. The firm has a market capitalization of $1.27 billion, a PE ratio of 11.10, a PEG ratio of 0.43 and a beta of 2.14. Celestica has a twelve month low of $7.01 and a twelve month high of $13.40. The stock’s 50 day moving average is $11.48 and its 200 day moving average is $11.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.51 and a quick ratio of 0.70.

Celestica (NYSE:CLSGet Rating) (TSE:CLS) last announced its quarterly earnings data on Wednesday, April 27th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. Celestica had a net margin of 1.93% and a return on equity of 12.61%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. As a group, equities analysts predict that Celestica will post 1.57 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. UBS Group AG increased its position in shares of Celestica by 16.1% in the third quarter. UBS Group AG now owns 7,154 shares of the technology company’s stock worth $64,000 after acquiring an additional 993 shares in the last quarter. Wells Fargo & Company MN increased its position in Celestica by 13.7% during the second quarter. Wells Fargo & Company MN now owns 10,157 shares of the technology company’s stock worth $80,000 after acquiring an additional 1,221 shares during the period. Jane Street Group LLC bought a new stake in Celestica in the 3rd quarter valued at $125,000. JustInvest LLC boosted its stake in shares of Celestica by 34.4% in the 4th quarter. JustInvest LLC now owns 14,057 shares of the technology company’s stock valued at $156,000 after purchasing an additional 3,598 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Celestica by 107.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 30,700 shares of the technology company’s stock worth $342,000 after buying an additional 15,900 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

About Celestica (Get Rating)

Celestica Inc provides hardware platform and supply chain solutions in North America, Europe, and Asia. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, engineering, supply chain management, new product introduction, 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.

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