Y Intercept Hong Kong Ltd recently acquired a new position in shares of Celestica Inc. during the first quarter of this year, as stated in their 13F filing with the Securities and Exchange Commission. The firm purchased 18,397 shares of Celestica’s stock, amounting to approximately $237,000.
Celestica (NYSE:CLS) (TSE:CLS) released its quarterly earnings data on July 26th, revealing positive results. The technology company reported earnings per share (EPS) of $0.55 for the quarter, surpassing analysts’ consensus estimate of $0.48 by $0.07. Additionally, revenue for the quarter stood at $1.94 billion, exceeding analyst estimates of $1.81 billion.
Furthermore, Celestica demonstrated an improved net margin of 2.17% along with a return on equity of 15.54%. Comparing these figures to the same quarter last year, it is evident that Celestica experienced a significant increase in quarterly revenue growth by 12.9%. In the previous year’s corresponding period, the company had earned $0.44 EPS.
Analysts predict that Celestica Inc.’s earnings per share for the current fiscal year will reach 2.06.
Celestica Inc., an industry-leading provider of supply chain solutions, operates across North America, Europe, and Asia through its Advanced Technology Solutions and Connectivity & Cloud Solutions segments. The company offers various services related to product manufacturing and supply chain management such as design and development, engineering services, component sourcing, electronics manufacturing and assembly, testing processes, systems integration, precision machining, logistics services, asset management solutions as well as after-market repair and return services.
By providing these comprehensive supply chain solutions to clients across different industries globally, Celestica strengthens its position as a prominent player in the market while catering to diverse customer demands effectively.
In conclusion, Celestica Inc.’s recent impressive quarterly earnings report showcases the company’s ability to outperform market expectations and maintain a strong financial position. With its wide range of supply chain solutions, Celestica continues to thrive in the industry, catering to clients around the world and driving growth in key global markets.
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Celestica Inc., a technology company, has seen increased activity in terms of stake acquisition and reduction by various institutional investors and hedge funds. Vanguard Group Inc. raised its stake in the company by 2.2% during the third quarter, adding an additional 77,778 shares worth $29,734,000 to their portfolio.
Similarly, Morgan Stanley grew its holdings in Celestica by 10.1% during the fourth quarter, acquiring an additional 211,930 shares valued at $26,093,000. Millennium Management LLC also saw a significant increase in their holdings, growing it by 64.7% during the same period and adding 885,919 shares worth $25,428,000 to their portfolio.
Moreover, Arrowstreet Capital Limited Partnership increased its holdings by 14.3% in the fourth quarter with an additional 252,745 shares valued at $22,822,000. Lastly, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Celestica by a staggering 57.2%, acquiring an additional 511,100 shares valued at $15,828,000.
These institutional investors now collectively own approximately 61.93% of Celestica’s stock.
On Friday morning trading hours on August 20th, Celestica’s stock (CLS) opened at $20.53 per share. The company has shown steady performance over time with a fifty-day moving average price of $17.03 and a two-hundred-day moving average price of $13.99.
In terms of yearly performance indicators for CLS stock as of August 20th this year: the fifty-two week low was recorded at $8.21 while the fifty-two week high stood at $22.68 – highlighting relative stability within that time frame.
Additional financial indicators for Celestica include a debt-to-equity ratio of 0.43 and liquidity ratios such as the quick ratio of 0.63 and the current ratio of 1.43. With a market capitalization of $2.45 billion, Celestica operates within the technology sector and possesses a price-to-earnings (PE) ratio of 14.88 with a beta value of 2.16.
Various equities research analysts have provided their insights on CLS shares. TD Securities upgraded its rating from “hold” to “buy” and raised its price objective from $14.50 to $23.00 in a report issued on July 28th this year.
Similarly, Royal Bank of Canada upgraded its rating for Celestica from “sector perform” to “outperform” and increased the price objective from $14.00 to $22.00 in the same report.
CIBC also upgraded its rating from “neutral” to “outperform” for Celestica and raised the price objective from $14.00 to $25.00 in their analysis.
Stifel Nicolaus, however, maintained a “hold” rating but raised their target price on Celestica shares from $20.00 to $24.00.
Lastly, StockNews.com initiated coverage on Celestica with a “buy” rating for the stock.
It is worth noting that Bloomberg.com indicates that Celestica currently has a consensus rating of “Moderate Buy,” with an average target price set at $21.31 as per available data.
Investors looking for further insights into Celestica’s performance should refer to our latest report on CLS’ financial updates and analysis for insightful information regarding this company’s stock market performance and future outlook.
