What is Cormark’s Forecast for Celestica Q3 Earnings?

Celestica Inc. (NYSE:CLS) (TSE:CLS) – Analysts at Cormark increased their Q3 2024 earnings per share estimates for Celestica in a research note issued on Monday, October 21st. Cormark analyst J. Pytlak now forecasts that the technology company will post earnings of $0.85 per share for the quarter, up from their prior estimate of $0.82. The consensus estimate for Celestica’s current full-year earnings is $3.22 per share. Cormark also issued estimates for Celestica’s FY2024 earnings at $3.23 EPS.

Several other brokerages also recently weighed in on CLS. CIBC upped their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. TD Securities boosted their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada boosted their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Canaccord Genuity Group boosted their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Celestica Price Performance

Shares of NYSE CLS opened at $67.92 on Wednesday. Celestica has a 1-year low of $20.87 and a 1-year high of $68.44. The business has a 50-day moving average of $52.13 and a 200-day moving average of $52.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 25.34 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s revenue was up 24.8% compared to the same quarter last year.

Hedge Funds Weigh In On Celestica

Several institutional investors have recently made changes to their positions in CLS. Price T Rowe Associates Inc. MD grew its holdings in shares of Celestica by 2,494.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,703,742 shares of the technology company’s stock valued at $391,147,000 after purchasing an additional 8,368,293 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Celestica by 19,876.9% during the second quarter. Driehaus Capital Management LLC now owns 1,164,653 shares of the technology company’s stock valued at $66,770,000 after purchasing an additional 1,158,823 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 562,157 shares during the last quarter. Principal Financial Group Inc. bought a new position in Celestica in the 1st quarter worth approximately $22,669,000. Finally, Broad Peak Investment Holdings Ltd. bought a new position in Celestica in the 1st quarter worth approximately $10,096,000. 67.38% of the stock is owned by institutional investors.

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.