Analysts expect that Celestica Inc (NYSE:CLS) (TSE:CLS) will post $1.72 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Celestica’s earnings, with the highest sales estimate coming in at $1.74 billion and the lowest estimate coming in at $1.69 billion. Celestica reported sales of $1.55 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 11%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, January 23rd.
On average, analysts expect that Celestica will report full-year sales of $6.62 billion for the current financial year, with estimates ranging from $6.59 billion to $6.65 billion. For the next fiscal year, analysts expect that the company will post sales of $6.47 billion, with estimates ranging from $6.44 billion to $6.50 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Celestica.
Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.14. Celestica had a return on equity of 4.03% and a net margin of 0.82%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion.
Several brokerages have recently issued reports on CLS. Zacks Investment Research downgraded Celestica from a “hold” rating to a “sell” rating in a research report on Tuesday, October 30th. TheStreet downgraded Celestica from a “b-” rating to a “c+” rating in a research report on Thursday, October 25th. BMO Capital Markets set a $12.00 price objective on Celestica and gave the company a “hold” rating in a research report on Wednesday, October 24th. Beacon Securities upgraded Celestica from a “hold” rating to a “buy” rating in a research report on Wednesday, October 10th. Finally, Macquarie upgraded Celestica from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.40.
Shares of NYSE:CLS traded down $0.39 on Wednesday, hitting $10.31. The company had a trading volume of 293,540 shares, compared to its average volume of 793,279. The company has a quick ratio of 1.10, a current ratio of 1.79 and a debt-to-equity ratio of 0.27. Celestica has a 52-week low of $9.10 and a 52-week high of $12.59. The company has a market capitalization of $1.46 billion, a P/E ratio of 14.32, a P/E/G ratio of 6.73 and a beta of 0.59.
A number of institutional investors have recently added to or reduced their stakes in CLS. Pzena Investment Management LLC acquired a new position in Celestica in the second quarter valued at $33,321,000. CIBC Asset Management Inc increased its stake in Celestica by 2,736.7% in the second quarter. CIBC Asset Management Inc now owns 1,481,221 shares of the technology company’s stock valued at $17,614,000 after purchasing an additional 1,429,004 shares during the last quarter. Janus Henderson Group PLC increased its stake in Celestica by 27.9% in the second quarter. Janus Henderson Group PLC now owns 4,051,770 shares of the technology company’s stock valued at $48,095,000 after purchasing an additional 884,595 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Celestica by 1,295.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 745,889 shares of the technology company’s stock valued at $8,206,000 after purchasing an additional 692,446 shares during the last quarter. Finally, Cumberland Partners Ltd acquired a new position in Celestica in the second quarter valued at $5,176,000. Hedge funds and other institutional investors own 65.56% of the company’s stock.
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. 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, and after-market repair and return services.
See Also: What is a Swap?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Celestica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celestica and related companies with MarketBeat.com's FREE daily email newsletter.