Celestica (NYSE:CLS) Releases FY23 Earnings Guidance

Celestica (NYSE:CLSGet 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Celestica from $11.00 to $12.00 and gave the stock a sector perform rating in a research report on Wednesday, October 26th. StockNews.com assumed coverage on shares of Celestica in a research report on Wednesday, October 12th. They set a strong-buy rating for the company. Citigroup boosted their target price on shares of Celestica from $10.00 to $12.00 and gave the stock a neutral rating in a research report on Wednesday, October 26th. TD Securities boosted their target price on shares of Celestica from $11.00 to $13.00 and gave the stock a hold rating in a research report on Wednesday, October 26th. Finally, Canaccord Genuity Group boosted their target price on shares of Celestica from $14.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday, October 26th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Celestica presently has an average rating of Moderate Buy and an average price target of $13.14.

Celestica Stock Performance

CLS traded down $0.05 during midday trading on Wednesday, reaching $13.15. The company had a trading volume of 670,582 shares, compared to its average volume of 436,500. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.61 and a current ratio of 1.43. The stock has a market cap of $1.61 billion, a PE ratio of 12.06 and a beta of 2.01. Celestica has a 12-month low of $8.21 and a 12-month high of $13.40. The business has a 50-day moving average price of $11.51 and a two-hundred day moving average price of $10.61.

Celestica (NYSE:CLSGet Rating) (TSE:CLS) last released its earnings results on Monday, October 24th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Celestica had a net margin of 2.01% and a return on equity of 14.59%. On average, sell-side analysts expect that Celestica will post 1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLS. UBS Group AG boosted its stake in Celestica by 48.7% in the first quarter. UBS Group AG now owns 9,229 shares of the technology company’s stock valued at $110,000 after acquiring an additional 3,022 shares during the last quarter. Raymond James & Associates purchased a new stake in shares of Celestica during the 1st quarter valued at approximately $132,000. Walleye Trading LLC purchased a new stake in shares of Celestica during the 1st quarter valued at approximately $133,000. Alliancebernstein L.P. lifted its stake in shares of Celestica by 69.8% during the 3rd quarter. Alliancebernstein L.P. now owns 18,189 shares of the technology company’s stock valued at $153,000 after buying an additional 7,478 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Celestica by 35.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 12,536 shares of the technology company’s stock valued at $158,000 after buying an additional 3,276 shares in the last quarter. 56.26% of the stock is currently owned by hedge funds and other institutional investors.

About Celestica

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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.

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