Celestica (NYSE:CLS) Issues Earnings Results

Celestica (NYSE:CLS) (TSE:CLS) issued its quarterly earnings results on Wednesday. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11, Briefing.com reports. The firm 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 company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS.

Celestica Trading Up 2.1 %

CLS traded up $1.44 on Friday, hitting $69.38. 3,806,459 shares of the company were exchanged, compared to its average volume of 2,272,151. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The firm has a fifty day simple moving average of $52.42 and a two-hundred day simple moving average of $52.27. The stock has a market capitalization of $8.24 billion, a PE ratio of 25.89 and a beta of 2.28. Celestica has a 12 month low of $20.87 and a 12 month high of $70.07.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of research reports. TD Cowen boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. TD Securities upped 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. Stifel Nicolaus increased their target price on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity Group lifted their price target on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets increased their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and a consensus target price 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.