Celestica Inc. (NYSE: CLS) stock jumped 3.84% on Thursday to $11.63 against a previous-day closing price of $11.20. With 0.51 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.48 million shares. During the session, the Electronic Components company that operates in wider Technology sector, reached to the highest price of $11.66 whereas the lowest price it dropped to was $11.23. The 52-week range on CLS shows that it touched its highest point at $14.28 and its lowest point at $8.21 during that stretch. It currently has a 1-year price target of $14.33. Beta for the stock currently stands at 2.09.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CLS was up-trending over the past week, with a rise of 2.02%, but this was down by -1.11% over a month. Three-month performance dropped to -11.36% while six-month performance rose 4.03%. The stock gained 12.15% in the past year, while it has gained 3.19% so far this year. A look at the trailing 12-month EPS for CLS yields 1.21 with Next year EPS estimates of 2.21. For the next quarter, that number is 0.47. This implies an EPS growth rate of 43.50% for this year and 8.39% for next year. EPS is expected to grow by 18.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.70%.
Float and Shares Shorts:
At present, 121.50 million CLS shares are outstanding with a float of 102.67 million shares on hand for trading. On May 14, 2023, short shares totaled 1.85 million, which was 1.53% higher than short shares on Apr 13, 2023. In addition to Mr. Robert Andrew Mionis as the firm’s Pres, CEO & Director, Mr. Mandeep Chawla serves as its Chief Financial Officer.
Other institutions hold 39.17% of CLS, in contrast to 31.35% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CLS with 11.88% of the stake, Letko, Brosseau & Associates Inc. holds 12,223,260 shares worth 12,223,260. A second-largest stockholder of CLS, Pzena Investment Management LLC, holds 5,826,294 shares, controlling over 5.66% of the firm’s shares. Donald Smith & Co., Inc. is the third largest shareholder in CLS, holding 5,038,906 shares or 4.90% stake. With a 2.97% stake in CLS, the Vanguard Selected Value Fund is the largest stakeholder. A total of 3,057,329 shares are owned by the mutual fund manager. The DFA International Small Cap Value, which owns about 2.26% of CLS stock, is the second-largest Mutual Fund holder. It holds 2,322,671 shares valued at 25.22 million. Victory Trivalent International S holds 1.35% of the stake in CLS, owning 1,384,102 shares worth 15.03 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CLS reported revenue of $1.72B and operating income of $60.20M. The EBITDA in the recently reported quarter was $96.10M and diluted EPS was $0.29.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CLS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CLS analysts setting a high price target of $16.00 and a low target of $13.50, the average target price over the next 12 months is $14.33. Based on these targets, CLS could surge 37.58% to reach the target high and rise by 16.08% to reach the target low. Reaching the average price target will result in a growth of 23.22% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CLS stock several times over the past three months with 19 Buys and 12 Sells. In these transactions, 973,580 shares were bought while 876,229 shares were sold. The number of buy transactions has increased to 124 while that of sell transactions has risen to 107 over the past year. The total number of shares bought during that period was 5,702,620 while 4,364,984 shares were sold.