Celestica (NYSE:CLS) Issues Earnings Results

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

Celestica Trading Up 2.1 %

Shares of NYSE CLS traded up $1.44 during midday trading on Friday, hitting $69.38. The stock had a trading volume of 3,634,717 shares, compared to its average volume of 2,272,151. The firm has a market cap of $8.24 billion, a P/E ratio of 25.34 and a beta of 2.28. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $70.07. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. The company’s 50-day simple moving average is $52.13 and its 200 day simple moving average is $52.13.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada upped their price target on Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus increased their target price on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. BMO Capital Markets raised their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, CIBC boosted their target price on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Two investment 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 an average 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.