Celestica, Inc. (CLS) Position Increased by Cidel Asset Management Inc.
Cidel Asset Management Inc. increased its position in shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,210,219 shares of the technology company’s stock after buying an additional 50,000 shares during the period. Celestica comprises about 1.4% of Cidel Asset Management Inc.’s portfolio, making the stock its 22nd largest position. Cidel Asset Management Inc. owned approximately 1.54% of Celestica worth $29,996,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royce & Associates LP bought a new position in Celestica during the first quarter worth $24,406,000. Goldman Sachs Group Inc. raised its position in Celestica by 101.2% in the first quarter. Goldman Sachs Group Inc. now owns 979,959 shares of the technology company’s stock worth $14,239,000 after buying an additional 492,964 shares during the last quarter. Morgan Stanley raised its position in Celestica by 34.4% in the first quarter. Morgan Stanley now owns 1,635,437 shares of the technology company’s stock worth $23,763,000 after buying an additional 418,774 shares during the last quarter. TD Asset Management Inc. raised its position in Celestica by 11.1% in the second quarter. TD Asset Management Inc. now owns 2,558,640 shares of the technology company’s stock worth $34,714,000 after buying an additional 255,400 shares during the last quarter. Finally, KAMES CAPITAL plc raised its position in Celestica by 201.0% in the second quarter. KAMES CAPITAL plc now owns 329,215 shares of the technology company’s stock worth $4,467,000 after buying an additional 219,857 shares during the last quarter. 61.92% of the stock is owned by institutional investors and hedge funds.
Celestica, Inc. (NYSE:CLS) opened at 11.54 on Friday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 12.54 and a beta of 0.66. The stock’s 50 day moving average price is $12.70 and its 200 day moving average price is $13.62. Celestica, Inc. has a one year low of $10.16 and a one year high of $14.74.
Celestica (NYSE:CLS) (TSE:CLS) last released 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 business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Celestica, Inc. will post $1.27 earnings per share for the current fiscal year.
CLS has been the subject of a number of recent analyst reports. BidaskClub lowered Celestica from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Macquarie lowered Celestica from an “outperform” rating to a “neutral” rating in a report on Thursday, June 22nd. Bank of America Corporation initiated coverage on Celestica in a report on Thursday, June 15th. They set a “neutral” rating and a $15.50 target price for the company. Scotiabank set a $15.00 target price on Celestica and gave the company a “sector perform” rating in a report on Wednesday, July 26th. Finally, TD Securities lifted their target price on Celestica from $12.00 to $13.50 and gave the company a “hold” rating in a report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $13.92.
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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