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

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

Celestica Price Performance

Shares of Celestica stock traded up $2.33 during trading hours on Friday, hitting $53.40. The company’s stock had a trading volume of 1,416,799 shares, compared to its average volume of 2,274,482. The business has a 50 day moving average price of $56.59 and a two-hundred day moving average price of $46.63. Celestica has a 12-month low of $17.73 and a 12-month high of $63.49. The company has a market cap of $6.34 billion, a PE ratio of 19.76 and a beta of 2.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42.

Wall Street Analyst Weigh In

CLS has been the topic of several analyst reports. Fox Advisors initiated coverage on Celestica in a research report on Wednesday, May 15th. They set an “overweight” rating and a $60.00 target price on the stock. Canaccord Genuity Group lifted their target price on Celestica from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Canaccord Genuity Group lifted their target price on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada lifted their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their target price on Celestica from $51.00 to $58.00 and gave the company a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.44.

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.