Celestica (NYSE:CLS) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

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

Celestica Trading Up 2.1 %

Shares of CLS traded up $1.44 on Friday, hitting $69.38. 3,806,459 shares of the stock traded hands, compared to its average volume of 2,272,151. Celestica has a 1 year low of $20.87 and a 1 year high of $70.07. The stock’s 50 day moving average is $52.42 and its two-hundred day moving average is $52.27. The firm has a market capitalization of $8.24 billion, a P/E ratio of 25.89 and a beta of 2.28. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price target on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group increased their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TD Securities lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their price target on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

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.