Celestica (TSE:CLS) Trading Down 11.6% – Here’s Why

Celestica Inc. (TSE:CLS) (NYSE:CLS)’s stock price was down 11.6% during mid-day trading on Thursday . The company traded as low as C$558.00 and last traded at C$562.28. Approximately 95,720 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 520,659 shares. The stock had previously closed at C$636.06.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD raised Celestica from a “hold” rating to a “buy” rating and upped their target price for the stock from C$350.00 to C$430.00 in a research note on Wednesday, April 29th. Wolfe Research upgraded Celestica to a “strong-buy” rating in a report on Tuesday, February 17th. Susquehanna raised Celestica to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, TD Securities raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Six equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, Celestica currently has an average rating of “Strong Buy” and an average target price of C$367.50.

Celestica Stock Down 12.3%

The stock has a market cap of C$59.62 billion, a PE ratio of 62.86, a P/E/G ratio of 0.14 and a beta of 1.61. The company has a current ratio of 1.26, a quick ratio of 0.54 and a debt-to-equity ratio of 36.81. The business has a 50 day moving average of C$503.20 and a 200-day moving average of C$443.39.

Celestica (TSE:CLS) (NYSE:CLS) last released its earnings results on Monday, April 27th. The company reported C$3.00 earnings per share (EPS) for the quarter. Celestica had a return on equity of 47.41% and a net margin of 6.95%.The business had revenue of C$5.63 billion for the quarter. Equities research analysts predict that Celestica Inc. will post 5.028804 EPS for the current fiscal year.

About Celestica

Celestica Inc offers supply chain solutions. The firm operates in two segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). ATS segment consists of the ATS end market and is comprised of A&D, Industrial, Energy, HealthTech, and Capital Equipment businesses. Capital Equipment business is comprised of our semiconductor, display, and power & signal distribution equipment businesses. CCS segment that derives majority revenue consists of Communications and Enterprise end markets.