Celestica (NYSE:CLS) Updates FY23 Earnings Guidance

Celestica (NYSE:CLS – Get Rating) (TSE:CLS) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.95-2.05 for the period, compared to the consensus earnings per share estimate of $2.03. The company issued revenue guidance of at least $7.50 billion, compared to the consensus revenue estimate of $7.57 billion. Celestica also updated its Q1 guidance to $0.41-0.47 EPS.

Wall Street Analysts Forecast Growth

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

Celestica Trading Down 0.4 %

Shares of NYSE:CLS traded down $0.05 during mid-day trading on Wednesday, reaching $13.15. 670,582 shares of the company’s stock were exchanged, compared to its average volume of 436,500. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 12.06 and a beta of 2.01. The business’s fifty day moving average price is $11.51 and its 200-day moving average price is $10.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.61 and a current ratio of 1.43. Celestica has a twelve month low of $8.21 and a twelve month high of $13.40.

Celestica (NYSE:CLS – Get Rating) (TSE:CLS) last issued its quarterly earnings results on Monday, October 24th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. Celestica had a net margin of 2.01% and a return on equity of 14.59%. On average, research analysts predict that Celestica will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Celestica by 2.2% in the third quarter. Vanguard Group Inc. now owns 3,535,515 shares of the technology company’s stock valued at $29,734,000 after buying an additional 77,778 shares during the period. Invesco Ltd. lifted its holdings in Celestica by 83.9% in the first quarter. Invesco Ltd. now owns 1,250,131 shares of the technology company’s stock valued at $14,890,000 after buying an additional 570,424 shares during the period. Millennium Management LLC lifted its holdings in Celestica by 14.2% in the second quarter. Millennium Management LLC now owns 1,192,046 shares of the technology company’s stock valued at $11,587,000 after buying an additional 148,170 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Celestica by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 917,357 shares of the technology company’s stock valued at $7,715,000 after buying an additional 46,181 shares during the period. Finally, Citadel Advisors LLC lifted its holdings in Celestica by 49.1% in the third quarter. Citadel Advisors LLC now owns 517,765 shares of the technology company’s stock valued at $4,355,000 after buying an additional 170,548 shares during the period. Institutional investors and hedge funds own 56.26% of the company’s stock.

Celestica Company Profile

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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.