Celestica, Inc. (NYSE:CLS) Given a $15.00 Price Target by Scotiabank Analysts
Scotiabank set a $15.00 target price on Celestica, Inc. (NYSE:CLS) (TSE:CLS) in a research note issued to investors on Wednesday morning. The brokerage currently has a sector perform rating on the technology company’s stock.
Several other equities research analysts have also issued reports on CLS. Citigroup Inc. raised shares of Celestica from a sell rating to a neutral rating and increased their target price for the stock from $11.50 to $15.00 in a research note on Thursday, April 6th. TD Securities raised their price target on shares of Celestica from $12.00 to $13.50 and gave the company a hold rating in a research note on Friday, April 21st. BMO Capital Markets set a $16.00 price target on shares of Celestica and gave the company a hold rating in a research note on Thursday, April 20th. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $15.00 price target (up from $13.00) on shares of Celestica in a research note on Sunday, April 23rd. Finally, Bank of America Corporation began coverage on shares of Celestica in a research note on Thursday, June 15th. They issued a neutral rating and a $15.50 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $13.92.
Shares of Celestica (NYSE:CLS) opened at 12.06 on Wednesday. The company has a market capitalization of $1.73 billion, a PE ratio of 13.11 and a beta of 0.69. Celestica has a one year low of $10.16 and a one year high of $14.74. The stock has a 50 day moving average price of $13.57 and a 200 day moving average price of $13.71.
Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Tuesday, July 25th. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.08. Celestica had a return on equity of 13.64% and a net margin of 2.12%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Celestica will post $1.27 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLS. Eqis Capital Management Inc. acquired a new position in Celestica during the first quarter worth $292,000. Capital Insight Partners LLC acquired a new position in Celestica during the first quarter worth $240,000. KAMES CAPITAL plc acquired a new position in Celestica during the first quarter worth $1,583,000. Russell Investments Group Ltd. raised its position in Celestica by 45.0% in the first quarter. Russell Investments Group Ltd. now owns 295,677 shares of the technology company’s stock worth $4,286,000 after buying an additional 91,750 shares during the period. Finally, Acadian Asset Management LLC raised its position in Celestica by 2.4% in the first quarter. Acadian Asset Management LLC now owns 2,741,936 shares of the technology company’s stock worth $39,761,000 after buying an additional 64,900 shares during the period. 61.58% of the stock is currently owned by institutional investors and hedge funds.
Celestica Company Profile
Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.
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