CIBC lowered shares of Celestica (NYSE:CLS) (TSE:CLS) from an outperform rating to a neutral rating in a report published on Thursday morning, The Fly reports.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Celestica from a hold rating to a buy rating and set a $9.75 target price on the stock in a report on Monday, April 15th. TD Securities dropped their target price on shares of Celestica from $12.00 to $10.00 and set a hold rating on the stock in a report on Friday, February 1st. Royal Bank of Canada dropped their target price on shares of Celestica from $12.00 to $10.00 and set a sector perform rating on the stock in a report on Friday, February 1st. Canaccord Genuity reiterated a buy rating and set a $11.00 target price on shares of Celestica in a report on Tuesday, February 5th. Finally, Macquarie cut shares of Celestica from an outperform rating to a neutral rating and set a $10.00 target price on the stock. in a report on Friday, February 1st. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $9.39.
NYSE CLS opened at $7.17 on Thursday. The company has a current ratio of 1.74, a quick ratio of 1.07 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $979.99 million, a PE ratio of 10.24, a P/E/G ratio of 4.55 and a beta of 0.82. Celestica has a 12 month low of $6.90 and a 12 month high of $12.59.
Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Thursday, April 25th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.08. Celestica had a net margin of 2.67% and a return on equity of 13.43%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $0.24 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts anticipate that Celestica will post 0.39 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the business. Beutel Goodman & Co Ltd. purchased a new position in shares of Celestica in the 1st quarter valued at approximately $56,000. Squarepoint Ops LLC purchased a new position in shares of Celestica in the 4th quarter valued at approximately $91,000. Citigroup Inc. raised its position in shares of Celestica by 10,347.4% in the 4th quarter. Citigroup Inc. now owns 12,119 shares of the technology company’s stock valued at $106,000 after purchasing an additional 12,003 shares during the last quarter. Gluskin Sheff & Assoc Inc. raised its position in shares of Celestica by 100.2% in the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 22,700 shares of the technology company’s stock valued at $199,000 after purchasing an additional 11,360 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Celestica in the 4th quarter valued at approximately $211,000. 66.33% of the stock is owned by institutional investors and hedge funds.
Celestica Company Profile
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, 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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