Celestica Inc. (NYSE:CLS) to Post Q2 2024 Earnings of $0.73 Per Share, Cormark Forecasts

Celestica Inc. (NYSE:CLS) (TSE:CLS) – Cormark raised their Q2 2024 earnings per share estimates for shares of Celestica in a research note issued to investors on Monday, July 22nd. Cormark analyst J. Pytlak now expects that the technology company will post earnings of $0.73 per share for the quarter, up from their previous forecast of $0.70. The consensus estimate for Celestica’s current full-year earnings is $2.88 per share. Cormark also issued estimates for Celestica’s FY2024 earnings at $2.88 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.84 EPS, Q4 2025 earnings at $0.86 EPS and FY2025 earnings at $3.28 EPS.

A number of other research firms have also commented on CLS. Canaccord Genuity Group upped their price target on Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 26th. StockNews.com upgraded Celestica from a “hold” rating to a “buy” rating in a research report on Thursday. Stifel Nicolaus upped their target price on Celestica from $48.00 to $51.00 and gave the company a “hold” rating in a research report on Monday, May 13th. CIBC upped their target price on Celestica from $49.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, May 27th. Finally, Royal Bank of Canada upped their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Celestica currently has an average rating of “Moderate Buy” and an average target price of $48.33.

Celestica Price Performance

Shares of CLS opened at $51.08 on Wednesday. Celestica has a 12-month low of $16.28 and a 12-month high of $63.49. The business has a 50-day simple moving average of $56.62 and a two-hundred day simple moving average of $46.60. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a market cap of $6.07 billion, a PE ratio of 19.06 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a return on equity of 18.25% and a net margin of 3.86%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLS. Vanguard Group Inc. boosted its holdings in Celestica by 1.3% in the third quarter. Vanguard Group Inc. now owns 3,704,369 shares of the technology company’s stock worth $90,831,000 after acquiring an additional 47,619 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Celestica in the fourth quarter worth approximately $345,000. Raymond James & Associates raised its stake in shares of Celestica by 41.8% in the fourth quarter. Raymond James & Associates now owns 47,757 shares of the technology company’s stock worth $1,398,000 after purchasing an additional 14,072 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Celestica by 128.6% in the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,384 shares during the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Celestica in the fourth quarter worth approximately $214,000. Institutional investors own 67.38% of the company’s stock.

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.