Cormark Has Bullish Estimate for Celestica FY2024 Earnings

Celestica Inc. (NYSE:CLS) (TSE:CLS) – Equities research analysts at Cormark raised their FY2024 EPS estimates for shares of Celestica in a research note issued to investors on Monday, January 27th. Cormark analyst J. Pytlak now expects that the technology company will post earnings of $3.51 per share for the year, up from their previous estimate of $3.44. The consensus estimate for Celestica’s current full-year earnings is $3.44 per share. Cormark also issued estimates for Celestica’s Q4 2024 earnings at $1.01 EPS, Q4 2025 earnings at $1.08 EPS and FY2025 earnings at $4.02 EPS.

Several other research analysts have also recently commented on CLS. BMO Capital Markets raised their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus raised their price target on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upped their price objective on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. TD Securities raised their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, TD Cowen upped their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.45.

Celestica Stock Down 28.4 %

CLS stock opened at $87.11 on Tuesday. Celestica has a twelve month low of $31.82 and a twelve month high of $131.23. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market cap of $10.14 billion, a PE ratio of 27.65 and a beta of 2.25. The business’s 50-day simple moving average is $96.92 and its 200 day simple moving average is $71.01.

Insider Buying and Selling at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica during the third quarter valued at $61,210,000. Whale Rock Capital Management LLC lifted its position in Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after purchasing an additional 975,163 shares during the period. Point72 Asset Management L.P. lifted its position in Celestica by 38.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after purchasing an additional 301,563 shares during the period. Natixis Advisors LLC boosted its stake in shares of Celestica by 1,697.3% in the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after purchasing an additional 220,494 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd grew its position in shares of Celestica by 53.8% during the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after buying an additional 183,300 shares during the period. 67.38% of the stock is 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.