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

Celestica (NYSE:CLS) (TSE:CLS) announced its earnings results on Wednesday. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Celestica’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share.

Celestica Stock Up 16.6 %

NYSE CLS traded up $9.53 on Thursday, reaching $67.00. The stock had a trading volume of 4,635,071 shares, compared to its average volume of 2,249,351. The business has a 50 day moving average price of $51.89 and a 200 day moving average price of $52.02. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. Celestica has a 1 year low of $20.87 and a 1 year high of $68.44. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 25.23 and a beta of 2.28.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CLS shares. Stifel Nicolaus boosted their target price on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. 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. StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. TD Securities upped their price target on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets upped their price target 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 seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

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.