Cormark Weighs in on Celestica’s Q3 Earnings (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) – Investment analysts at Cormark increased their Q3 2024 earnings estimates for shares of Celestica in a research report issued on Monday, October 21st. Cormark analyst J. Pytlak now anticipates that the technology company will post earnings of $0.85 per share for the quarter, up from their prior forecast of $0.82. The consensus estimate for Celestica’s current full-year earnings is $3.22 per share. Cormark also issued estimates for Celestica’s FY2024 earnings at $3.23 EPS.

CLS has been the subject of a number of other research reports. Canaccord Genuity Group raised their price target on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. CIBC boosted their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus raised shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Monday, September 9th. Royal Bank of Canada lifted their price target on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.88.

Celestica Price Performance

Shares of NYSE CLS opened at $55.98 on Wednesday. The business has a 50 day moving average price of $51.78 and a two-hundred day moving average price of $51.99. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $64.56. The firm has a market cap of $6.65 billion, a PE ratio of 20.89 and a beta of 2.28. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Optimum Investment Advisors grew its stake in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. UMB Bank n.a. bought a new position in shares of Celestica during the third quarter worth about $34,000. Wolff Wiese Magana LLC increased its holdings in shares of Celestica by 32.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after acquiring an additional 170 shares during the period. Naples Money Management LLC increased its holdings in shares of Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock worth $55,000 after acquiring an additional 450 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Celestica in the 2nd quarter valued at about $59,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

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.