Celestica (CLS) Set to Announce Quarterly Earnings on Wednesday

Celestica (NYSE:CLS - Get Free Report) TSE: CLS will release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Celestica to post 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.Persons that wish to register for the company's earnings conference call can do so using this link.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last announced its quarterly earnings data 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. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.08 billion. On average, analysts expect Celestica to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Celestica Stock Performance

CLS traded down $1.09 during trading hours on Wednesday, hitting $44.62. 1,529,492 shares of the stock were exchanged, compared to its average volume of 2,166,358. The stock has a 50-day simple moving average of $43.94 and a 200-day simple moving average of $33.55. Celestica has a 12 month low of $10.50 and a 12 month high of $51.12. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 21.98 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD bought a new position in Celestica during the fourth quarter valued at about $9,822,000. Legal & General Group Plc boosted its stake in Celestica by 2.9% during the fourth quarter. Legal & General Group Plc now owns 137,744 shares of the technology company's stock valued at $4,054,000 after buying an additional 3,884 shares in the last quarter. Vanguard Group Inc. boosted its stake in Celestica by 15.2% during the fourth quarter. Vanguard Group Inc. now owns 4,266,526 shares of the technology company's stock valued at $124,924,000 after buying an additional 562,157 shares in the last quarter. Vident Advisory LLC boosted its stake in Celestica by 10.9% during the fourth quarter. Vident Advisory LLC now owns 72,220 shares of the technology company's stock valued at $2,120,000 after buying an additional 7,111 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Celestica during the fourth quarter valued at about $19,273,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CLS. BMO Capital Markets raised their price objective on Celestica from $32.00 to $37.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 31st. CIBC increased their target price on Celestica from $33.00 to $41.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 31st. Canaccord Genuity Group increased their target price on Celestica from $32.50 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. Royal Bank of Canada increased their target price on Celestica from $33.00 to $38.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 31st. Finally, StockNews.com lowered Celestica from a "buy" rating to a "hold" rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Celestica has an average rating of "Moderate Buy" and an average target price of $33.88.

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.