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

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

Celestica Stock Performance

Celestica stock traded up $9.53 during trading hours on Thursday, hitting $67.00. The stock had a trading volume of 4,635,071 shares, compared to its average volume of 2,249,351. The company has a 50-day moving average of $51.89 and a two-hundred day moving average of $52.02. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market cap of $7.96 billion, a PE ratio of 25.23 and a beta of 2.28. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $68.44.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CLS shares. TD Securities upped their price target on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus upped their price target on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada upped their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. CIBC upped their price target on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, 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.