Celestica (NYSE:CLS) Releases Q1 Earnings Guidance

Celestica (NYSE:CLSGet Rating) (TSE:CLS) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.41-0.47 for the period, compared to the consensus estimate of $0.40. The company issued revenue guidance of $1.725-1.875 billion, compared to the consensus revenue estimate of $1.70 billion. Celestica also updated its FY23 guidance to $1.95-2.05 EPS.

Celestica Stock Performance

CLS traded down $0.05 on Wednesday, hitting $13.15. 670,582 shares of the stock traded hands, compared to its average volume of 436,500. Celestica has a 52 week low of $8.21 and a 52 week high of $13.40. The company has a current ratio of 1.43, a quick ratio of 0.61 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.61 billion, a PE ratio of 12.06 and a beta of 2.01. The business has a fifty day moving average price of $11.51 and a two-hundred day moving average price of $10.61.

Celestica (NYSE:CLSGet Rating) (TSE:CLS) last released its quarterly earnings data on Monday, October 24th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.72 billion. Celestica had a return on equity of 14.59% and a net margin of 2.01%. On average, research analysts predict that Celestica will post 1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

CLS has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on Celestica from $14.00 to $15.00 and gave the company a buy rating in a report on Wednesday, October 26th. Citigroup lifted their price objective on Celestica from $10.00 to $12.00 and gave the company a neutral rating in a report on Wednesday, October 26th. Royal Bank of Canada lifted their price objective on Celestica from $11.00 to $12.00 and gave the company a sector perform rating in a report on Wednesday, October 26th. TD Securities boosted their target price on Celestica from $11.00 to $13.00 and gave the stock a hold rating in a report on Wednesday, October 26th. Finally, StockNews.com started coverage on Celestica in a report on Wednesday, October 12th. They issued a strong-buy rating on the stock. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Celestica currently has an average rating of Moderate Buy and an average target price of $13.14.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Celestica by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 797,114 shares of the technology company’s stock worth $9,494,000 after buying an additional 2,410 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Celestica by 16.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,709 shares of the technology company’s stock worth $172,000 after buying an additional 2,495 shares in the last quarter. UBS Group AG lifted its holdings in Celestica by 48.7% during the 1st quarter. UBS Group AG now owns 9,229 shares of the technology company’s stock worth $110,000 after buying an additional 3,022 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Celestica by 35.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 12,536 shares of the technology company’s stock worth $158,000 after buying an additional 3,276 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Celestica by 25.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,014 shares of the technology company’s stock worth $165,000 after buying an additional 3,469 shares in the last quarter. Institutional investors and hedge funds own 56.26% of the company’s stock.

Celestica Company Profile

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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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