Cormark Has Bullish Outlook for Celestica FY2024 Earnings

Celestica Inc. (NYSE:CLS) (TSE:CLS) – Stock analysts at Cormark increased their FY2024 earnings per share estimates for Celestica in a research report issued on Monday, January 27th. Cormark analyst J. Pytlak now anticipates that the technology company will post earnings per share of $3.51 for the year, up from their previous forecast 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 research analysts have also recently issued reports about the company. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. TD Cowen boosted their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Barclays assumed coverage on shares of Celestica in a research note on Tuesday, November 5th. They set an “overweight” rating and a $91.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.82.

Celestica Trading Up 6.3 %

Shares of CLS stock opened at $100.46 on Tuesday. The company has a market capitalization of $11.69 billion, a P/E ratio of 31.89 and a beta of 2.25. The firm has a 50-day moving average price of $97.35 and a 200 day moving average price of $71.46. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a 12-month low of $32.55 and a 12-month high of $131.23.

Insider Buying and Selling

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction 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 approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC grew its stake in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after buying an additional 975,163 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Celestica during the third quarter valued at approximately $61,210,000. Point72 Asset Management L.P. increased its position in Celestica by 38.5% during the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after acquiring an additional 301,563 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Celestica by 25.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock worth $27,413,000 after purchasing an additional 109,972 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd lifted its position in Celestica by 53.8% during the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after purchasing an additional 183,300 shares in the last quarter. Hedge funds and other 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.