Celestica (NYSE:CLS) Issues Earnings Results

Celestica (NYSE:CLS) (TSE:CLS) posted its quarterly earnings data on Wednesday. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11, Briefing.com reports. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share.

Celestica Trading Up 17.8 %

Celestica stock traded up $10.21 during midday trading on Thursday, hitting $67.68. 4,733,179 shares of the stock were exchanged, compared to its average volume of 2,249,976. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $68.44. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 25.23 and a beta of 2.28. The stock’s 50-day simple moving average is $51.89 and its 200 day simple moving average is $52.02. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.

Analyst Ratings Changes

CLS has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. CIBC increased their target price on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus increased their target price on shares of Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada increased their target price on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, TD Securities increased their target price on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.00.

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.