Celestica (CLS) Set to Announce Quarterly Earnings on Wednesday

Celestica (NYSE:CLS) (TSE:CLS) will announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results 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 company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations 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

CLS stock opened at $45.71 on Wednesday. The business has a fifty day moving average of $43.77 and a two-hundred day moving average of $33.47. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 22.52 and a beta of 2.22. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CLS shares. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Royal Bank of Canada raised their target price on Celestica from $33.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. CIBC lifted their price objective on Celestica from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. TD Securities lifted their price objective on Celestica from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group lifted their price objective on Celestica from $32.50 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

Institutional Trading of Celestica

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Celestica by 25.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,014 shares of the technology company’s stock valued at $165,000 after acquiring an additional 3,469 shares during the period. Great West Life Assurance Co. Can increased its position in Celestica by 35.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 12,536 shares of the technology company’s stock valued at $158,000 after acquiring an additional 3,276 shares during the period. Neuberger Berman Group LLC acquired a new position in Celestica in the 4th quarter valued at about $154,000. Alliancebernstein L.P. increased its position in Celestica by 69.8% in the 3rd quarter. Alliancebernstein L.P. now owns 18,189 shares of the technology company’s stock valued at $153,000 after acquiring an additional 7,478 shares during the period. Finally, State of Tennessee Treasury Department acquired a new position in Celestica in the 2nd quarter valued at about $147,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Company Profile

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.