Celestica (CLS) Set to Announce Quarterly Earnings on Wednesday

Celestica (NYSE:CLS) (TSE:CLS) will be posting its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Celestica to post earnings of $0.64 per share for the quarter. Celestica has set its Q1 2024 guidance at 0.670-0.770 EPS and its Q1 guidance at $0.67-0.77 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. On average, analysts expect Celestica to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Celestica Price Performance

NYSE CLS opened at $45.71 on Wednesday. The stock’s 50-day moving average price is $43.77 and its two-hundred day moving average price is $33.47. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.45 billion, a PE ratio of 22.52 and a beta of 2.22. Celestica has a 1 year low of $10.50 and a 1 year high of $51.12.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Royal Bank of Canada upped their target price on Celestica from $33.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. TD Securities upped their target price on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. BMO Capital Markets upped their target price on Celestica from $32.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Canaccord Genuity Group upped their target price on Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.88.

Institutional Investors Weigh In On Celestica

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Celestica by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company’s stock worth $124,924,000 after purchasing an additional 562,157 shares during the period. Morgan Stanley boosted its position in Celestica by 10.1% during the fourth quarter. Morgan Stanley now owns 2,315,291 shares of the technology company’s stock worth $26,093,000 after purchasing an additional 211,930 shares during the period. Millennium Management LLC boosted its position in Celestica by 64.7% during the fourth 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 period. Arrowstreet Capital Limited Partnership boosted its position in Celestica by 7.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,174,855 shares of the technology company’s stock worth $28,049,000 after purchasing an additional 149,079 shares during the period. Finally, Invesco Ltd. boosted its position in Celestica by 83.9% during the first 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 period. Institutional investors own 67.38% of the company’s stock.

About Celestica

Celestica Inc provides 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, 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.