Celestica (NYSE:CLS) Releases Earnings Results, Beats Expectations By $0.10 EPS

Celestica (NYSE:CLS) (TSE:CLS) issued its earnings results on Wednesday. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10, Briefing.com reports. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. Celestica’s revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share.

Celestica Stock Down 0.5 %

Shares of CLS stock traded down $0.26 on Thursday, hitting $53.13. The stock had a trading volume of 5,286,818 shares, compared to its average volume of 2,268,287. The business has a 50 day moving average of $56.62 and a 200 day moving average of $46.60. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 19.41 and a beta of 2.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. Celestica has a 12-month low of $16.28 and a 12-month high of $63.49.

Wall Street Analysts Forecast Growth

CLS has been the topic of several research analyst reports. CIBC increased their target price on shares of Celestica from $49.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, May 27th. Fox Advisors began coverage on shares of Celestica in a research note on Wednesday, May 15th. They set an “overweight” rating and a $60.00 target price on the stock. Royal Bank of Canada raised their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Finally, Canaccord Genuity Group raised their price objective on shares of Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.33.

About Celestica

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.