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

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

Celestica Price Performance

Shares of NYSE CLS traded up $0.66 during midday trading on Friday, reaching $68.60. 458,097 shares of the company traded hands, compared to its average volume of 2,255,987. The stock’s 50-day simple moving average is $52.13 and its 200-day simple moving average is $52.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. Celestica has a 12 month low of $20.87 and a 12 month high of $69.19. The firm has a market cap of $8.15 billion, a PE ratio of 25.34 and a beta of 2.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. BMO Capital Markets upped their price target on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday. Stifel Nicolaus lifted their price target on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. TD Securities increased their price target on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen increased their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada upped their price objective on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.