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

Celestica (NYSE:CLS) (TSE:CLS) released its earnings results on Wednesday. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11, Briefing.com reports. The firm 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%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share.

Celestica Stock Up 2.1 %

Shares of NYSE:CLS traded up $1.44 during mid-day trading on Friday, reaching $69.38. 3,634,717 shares of the stock were exchanged, compared to its average volume of 2,272,151. The company has a market cap of $8.24 billion, a P/E ratio of 25.34 and a beta of 2.28. 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 quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a one year low of $20.87 and a one year high of $70.07.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price target on shares of Celestica from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets raised their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday. TD Securities boosted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their price target on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

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.