What is Cormark’s Estimate for Celestica FY2024 Earnings?

Celestica Inc. (NYSE:CLS) (TSE:CLS) – Investment analysts at Cormark increased their FY2024 EPS estimates for shares of Celestica in a report released on Monday, January 27th. Cormark analyst J. Pytlak now forecasts that the technology company will post earnings of $3.51 per share 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 equities analysts have also recently weighed in on the stock. TD Cowen raised their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price objective on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Royal Bank of Canada raised their price target on shares of Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. BMO Capital Markets boosted their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, UBS Group initiated coverage on Celestica in a research report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.82.

Celestica Stock Up 8.0 %

Shares of NYSE CLS 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. The company has a 50-day moving average price of $97.08 and a 200-day moving average price of $71.25. The stock has a market capitalization of $10.98 billion, a P/E ratio of 29.96 and a beta of 2.25. Celestica has a 1 year low of $31.82 and a 1 year high of $131.23.

Insiders Place Their Bets

In related news, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the transaction, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several institutional investors have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC purchased a new position in Celestica during the 4th quarter valued at about $385,000. Quantbot Technologies LP grew its holdings in shares of Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after buying an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Celestica in the third quarter worth $61,210,000. Sigma Planning Corp bought a new position in Celestica during the third quarter valued at approximately $420,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after acquiring an additional 12,584 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.