Celestica (NYSE:CLS) updates Q2 earnings guidance

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Celestica (NYSE:CLS – Get Rating) (TSE:CLS) provided an update on its second-quarter earnings guidance on Wednesday morning. The company provided earnings guidance of $0.38 to $0.44 per share for the period, compared to Thomson Reuters consensus estimate for earnings per share of $0.39. The company issued a revenue guidance of $1.575 billion to $1.725 billion compared to the consensus estimate of $1.58 billion.

NYSE:CLS traded down $0.17 on Friday to hit $11.23. The stock had a trading volume of 892,888 shares compared to an average volume of 516,261. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 12.21, a price-to-earnings ratio of 0.46 and a beta of 2.26. The company has a debt to equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 0.77. The company’s 50-day moving average is $11.61 and its 200-day moving average is $11.21. Celestica has a 12-month low of $7.01 and a 12-month high of $13.40.

Celestica (NYSE:CLS – Get Rating) (TSE:CLS) last announced its earnings results on Wednesday, April 27th. The tech company reported earnings per share (EPS) of $0.39 for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. The company had revenue of $1.57 billion in the quarter, compared to analyst estimates of $1.48 billion. Celestica had a net margin of 1.93% and a return on equity of 12.73%. The company’s quarterly revenue increased 26.9% year over year. In the same period last year, the company earned $0.22 per share. As a group, research analysts forecast Celestica to report fiscal year-to-date earnings per share of 1.61.

A number of brokers have recently rated CLS. The Canaccord Genuity Group raised its target price on shares of Celestica from $12.00 to $13.50 in a research note on Friday, January 28. Zacks Investment Research lowered Celestica from a strong buy rating to a hold rating in a research report Tuesday, April 5. The Royal Bank of Canada raised its price target on Celestica shares to $13.00 from $11.00 and gave the company a sector performance rating in a research note on Friday, January 28. StockNews.com upgraded shares of Celestica from a buy rating to a strong buy rating in a report Thursday. Finally, TD Securities set a $12.50 price target for Celestica shares and gave the company a hold rating in a research report Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given the company a strong buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $12.50.

Several major investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Celestica stock worth $12,972,000 during the fourth quarter. JustInvest LLC increased its stake in Celestica by 34.4% in the fourth quarter. JustInvest LLC now owns 14,057 shares of the technology company, valued at $156,000, after purchasing an additional 3,598 shares during the period. Goldman Sachs Group Inc. increased its stake in Celestica by 107.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 30,700 shares of the tech company, valued at $342,000, after purchasing an additional 15,900 shares last quarter. Legal & General Group Plc increased its holdings of Celestica shares by 2.7% in the fourth quarter. Legal & General Group Plc now owns 109,567 shares of the technology company, valued at $1,223,000, after purchasing a further 2,927 shares during the period. Finally, Millennium Management LLC increased its stake in Celestica by 158.3% in the fourth quarter. Millennium Management LLC now owns 727,562 shares of the technology company’s stock valued at $8,098,000 after purchasing an additional 445,852 shares during the period. 60.38% of the shares are owned by hedge funds and other institutional investors.

About Celestica (received rating)

Celestica Inc provides hardware platforms and supply chain solutions in North America, Europe and Asia. It operates through two segments, Advanced Technology Solutions and Connectivity & Cloud Solutions. The Company provides 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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