Celestica Inc. (NYSE:CLS – Free Report) (TSE:CLS) – Investment analysts at Cormark upped their FY2024 EPS estimates for 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 per share of $3.51 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.
Other analysts also recently issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Canaccord Genuity Group upped their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Barclays began coverage on Celestica in a research note on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.82.
Celestica Stock Up 6.3 %
CLS stock opened at $100.46 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company’s 50 day moving average price is $97.35 and its 200 day moving average price is $71.46. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 31.89 and a beta of 2.25. Celestica has a fifty-two week low of $32.55 and a fifty-two week high of $131.23.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC acquired a new stake in shares of Celestica in the fourth quarter valued at about $385,000. Quantbot Technologies LP raised its holdings in shares of Celestica by 120.9% in the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after buying an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Celestica in the 3rd quarter valued at $61,210,000. Sigma Planning Corp bought a new stake in Celestica during the third quarter worth about $420,000. Finally, Advisors Asset Management Inc. raised its position in Celestica by 61.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Celestica
In other news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was 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 in the company, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.00% 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.
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