Celestica Inc. (NYSE: CLS) stock fell -0.18% on Monday to $22.75 against a previous-day closing price of $22.79. With 1.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.55 million shares. During the session, the Electronic Components company that operates in wider Technology sector, reached to the highest price of $23.03 whereas the lowest price it dropped to was $22.68. The 52-week range on CLS shows that it touched its highest point at $24.46 and its lowest point at $8.21 during that stretch. It currently has a 1-year price target of $23.33. Beta for the stock currently stands at 2.15.
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 down-trending over the past week, with a drop of -5.60%, but this was up by 9.22% over a month. Three-month performance surged to 59.76% while six-month performance rose 89.58%. The stock gained 133.09% in the past year, while it has gained 101.86% so far this year. A look at the trailing 12-month EPS for CLS yields 1.38 with Next year EPS estimates of 2.51. For the next quarter, that number is 0.60. This implies an EPS growth rate of 43.50% for this year and 10.49% for next year. EPS is expected to grow by 15.50% 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, 120.30 million CLS shares are outstanding with a float of 111.29 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.32 million, which was 1.11% higher than short shares on Jul 30, 2023. In addition to Mr. Robert Andrew Mionis as the firm’s Pres, CEO & Director, Mr. Mandeep Chawla serves as its Chief Financial Officer.
Through their ownership of 77.60% of CLS’s outstanding shares, institutional investors have majority control over the company.
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 Jun 29, 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 $25.00 and a low target of $16.67, the average target price over the next 12 months is $22.45. Based on these targets, CLS could surge 9.89% to reach the target high and fall by -26.73% to reach the target low. Reaching the average price target will result in a decline of -1.32% 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 3 Buys and 2 Sells. In these transactions, 6,815,594 shares were bought while 7,030,611 shares were sold. The number of buy transactions has increased to 98 while that of sell transactions has risen to 84 over the past year. The total number of shares bought during that period was 23,747,584 while 22,815,102 shares were sold.