Cormark Comments on Celestica Inc.’s Q2 2024 Earnings (TSE:CLS)

Celestica Inc. (TSE:CLS) (NYSE:CLS) – Research analysts at Cormark increased their Q2 2024 EPS estimates for shares of Celestica in a research report issued to clients and investors on Monday, July 22nd. Cormark analyst J. Pytlak now forecasts that the company will post earnings per share of $1.00 for the quarter, up from their prior forecast of $0.95. The consensus estimate for Celestica’s current full-year earnings is $4.50 per share. Cormark also issued estimates for Celestica’s FY2024 earnings at $3.96 EPS, Q2 2025 earnings at $1.14 EPS, Q3 2025 earnings at $1.15 EPS, Q4 2025 earnings at $1.18 EPS and FY2025 earnings at $4.50 EPS.

Celestica (TSE:CLS) (NYSE:CLS) last issued its earnings results on Wednesday, April 24th. The company reported C$0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.86 by C$0.04. The company had revenue of C$2.98 billion during the quarter, compared to analyst estimates of C$2.83 billion. Celestica had a return on equity of 19.10% and a net margin of 3.86%.

Separately, CIBC downgraded shares of Celestica from an “outperform” rating to a “neutral” rating and increased their price target for the stock from C$41.00 to C$49.00 in a report on Friday, April 26th.

Celestica Stock Down 4.2 %

Shares of CLS stock opened at C$70.64 on Wednesday. Celestica has a fifty-two week low of C$21.52 and a fifty-two week high of C$86.89. The firm has a market capitalization of C$8.39 billion, a PE ratio of 19.14, a P/E/G ratio of 0.14 and a beta of 2.35. The company has a debt-to-equity ratio of 48.65, a quick ratio of 0.54 and a current ratio of 1.42. The stock’s 50-day simple moving average is C$77.44 and its 200-day simple moving average is C$63.51.

Insider Activity at Celestica

In related news, Senior Officer Jason Phillips sold 20,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of C$51.75, for a total value of C$1,035,092.00. In other Celestica news, Senior Officer Todd Christopher Cooper sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of C$52.45, for a total value of C$655,625.00. Also, Senior Officer Jason Phillips sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$51.75, for a total value of C$1,035,092.00. Over the last ninety days, insiders sold 68,700 shares of company stock worth $3,983,829. 0.99% of the stock is owned by corporate insiders.

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.