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

Celestica (NYSE:CLS) (TSE:CLS) released its quarterly earnings data on Wednesday. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.10, Briefing.com reports. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 20.14%. Celestica’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS.

Celestica Stock Up 4.5 %

Shares of NYSE:CLS traded up $2.31 during trading on Friday, reaching $53.38. The stock had a trading volume of 1,255,067 shares, compared to its average volume of 2,273,352. The firm’s 50-day simple moving average is $56.59 and its 200 day simple moving average is $46.63. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. Celestica has a one year low of $17.73 and a one year high of $63.49. The company has a market capitalization of $6.34 billion, a P/E ratio of 19.76 and a beta of 2.31.

Analysts Set New Price Targets

CLS has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Stifel Nicolaus lifted their target price on shares of Celestica from $51.00 to $58.00 and gave the company a “hold” rating in a research report on Friday. Fox Advisors assumed coverage on shares of Celestica in a report on Wednesday, May 15th. They issued an “overweight” rating and a $60.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, CIBC lifted their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.44.

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.