Cormark Comments on Celestica’s FY2024 Earnings (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) – Analysts at Cormark upped their FY2024 earnings estimates for shares of Celestica in a research report issued to clients and 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 prior 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.

Several other analysts have also recently commented on the stock. 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. Canaccord Genuity Group boosted 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. Barclays began coverage on Celestica in a research report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, TD Cowen raised their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.82.

Celestica Trading Up 8.0 %

CLS stock opened at $94.39 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica has a 1-year low of $31.82 and a 1-year high of $131.23. The business has a 50 day simple moving average of $97.08 and a two-hundred day simple moving average of $71.25. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 29.96 and a beta of 2.25.

Insider Buying and Selling at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Wealth Management LLC purchased a new stake in shares of Celestica during the fourth quarter valued at $385,000. Quantbot Technologies LP grew its stake in Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Celestica in the third quarter valued at about $61,210,000. Sigma Planning Corp purchased a new position in shares of Celestica in the third quarter worth about $420,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 12,584 shares during the period. 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.