Celestica (NYSE:CLS) Updates Q3 2021 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its third quarter 2021 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.300-$0.360 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.320. The company issued revenue guidance of $1.40 billion-$1.55 billion, compared to the consensus revenue estimate of $1.49 billion.Celestica also updated its FY 2022 guidance to EPS.

Shares of CLS stock traded up $0.09 during trading on Thursday, reaching $9.30. 116 shares of the company’s stock were exchanged, compared to its average volume of 337,497. The company has a quick ratio of 0.98, a current ratio of 1.71 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.18 billion, a PE ratio of 13.35, a PEG ratio of 0.81 and a beta of 2.41. Celestica has a twelve month low of $5.77 and a twelve month high of $9.96. The firm’s fifty day moving average price is $9.00 and its 200-day moving average price is $8.51.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Sunday, July 25th. The technology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. Celestica had a return on equity of 9.91% and a net margin of 1.56%. As a group, analysts anticipate that Celestica will post 1.06 EPS for the current fiscal year.

Several equities research analysts recently commented on CLS shares. TD Securities raised their target price on Celestica from C$9.50 to C$11.00 and gave the stock a hold rating in a research note on Thursday, September 23rd. Zacks Investment Research cut Celestica from a buy rating to a hold rating in a research note on Tuesday, September 28th. TheStreet raised Celestica from a c+ rating to a b- rating in a research note on Thursday, August 19th. Royal Bank of Canada raised their price objective on Celestica from $10.00 to $11.00 and gave the company a sector perform rating in a research note on Thursday, September 23rd. Finally, Citigroup raised their price objective on Celestica from $8.00 to $8.50 and gave the company a sell rating in a research note on Thursday, September 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $9.50.

An institutional investor recently raised its position in Celestica stock. Wells Fargo & Company MN increased its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 13.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,157 shares of the technology company’s stock after acquiring an additional 1,221 shares during the quarter. Wells Fargo & Company MN’s holdings in Celestica were worth $80,000 as of its most recent SEC filing. Institutional investors own 58.62% of the company’s stock.

Celestica Company Profile

Celestica, Inc engages in the provision of supply chain solutions globally to original equipment manufacturers and service providers. It operates through the Advanced Technology Solutions (ATS) and Connectivity and Cloud Solutions (CCS) business segments. The ATS segment comprises of aerospace and defense, industrial, smart energy, health tech, and capital equipment businesses.

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