Celestica (NYSE:CLS) Releases Q1 Earnings Guidance

Celestica (NYSE:CLSGet Rating) (TSE:CLS) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.41-0.47 for the period, compared to the consensus estimate of $0.40. The company issued revenue guidance of $1.725-1.875 billion, compared to the consensus revenue estimate of $1.70 billion. Celestica also updated its FY23 guidance to $1.95-2.05 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLS. Citigroup lifted their target price on Celestica from $10.00 to $12.00 and gave the stock a neutral rating in a report on Wednesday, October 26th. StockNews.com initiated coverage on Celestica in a research report on Wednesday, October 12th. They issued a strong-buy rating for the company. Royal Bank of Canada raised their target price on Celestica from $11.00 to $12.00 and gave the stock a sector perform rating in a research report on Wednesday, October 26th. TD Securities raised their target price on Celestica from $11.00 to $13.00 and gave the stock a hold rating in a research report on Wednesday, October 26th. Finally, Canaccord Genuity Group raised their target price on Celestica from $14.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday, October 26th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Celestica currently has a consensus rating of Moderate Buy and a consensus price target of $13.14.

Celestica Stock Down 0.4 %

CLS traded down $0.05 during trading on Wednesday, reaching $13.15. 670,582 shares of the stock traded hands, compared to its average volume of 436,500. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 12.06 and a beta of 2.01. Celestica has a fifty-two week low of $8.21 and a fifty-two week high of $13.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.43 and a quick ratio of 0.61. The stock’s 50-day simple moving average is $11.51 and its two-hundred day simple moving average is $10.61.

Celestica (NYSE:CLSGet Rating) (TSE:CLS) last released its quarterly earnings data on Monday, October 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Celestica had a return on equity of 14.59% and a net margin of 2.01%. As a group, equities research analysts expect that Celestica will post 1.63 EPS for the current year.

Institutional Trading of Celestica

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its position in shares of Celestica by 154.1% in the third quarter. Jane Street Group LLC now owns 44,605 shares of the technology company’s stock worth $375,000 after buying an additional 27,052 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Celestica in the second quarter worth about $276,000. Quantbot Technologies LP lifted its position in shares of Celestica by 1,912.6% in the second quarter. Quantbot Technologies LP now owns 21,495 shares of the technology company’s stock worth $208,000 after buying an additional 20,427 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Celestica in the third quarter worth about $174,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Celestica by 16.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,709 shares of the technology company’s stock worth $172,000 after buying an additional 2,495 shares during the last quarter. Institutional investors and hedge funds own 56.26% of the company’s stock.

About Celestica

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Celestica Inc provides hardware platform and 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, engineering, supply chain management, new product introduction, 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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