Celestica (NYSE:CLS) Announces Quarterly Earnings Results

Celestica (NYSE:CLS - Get Free Report) TSE: CLS announced its earnings results on Wednesday. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11, Briefing.com reports. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business earned $0.65 earnings per share. The company's revenue for the quarter was up 24.8% compared to the same quarter last year.

Celestica Stock Performance

Celestica stock traded up $10.45 during midday trading on Thursday, hitting $67.92. 7,504,051 shares of the company's stock were exchanged, compared to its average volume of 2,264,700. Celestica has a 12-month low of $20.87 and a 12-month high of $68.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 25.34 and a beta of 2.28. The firm's 50 day simple moving average is $52.13 and its 200 day simple moving average is $52.13.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CLS shares. TD Cowen lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday. TD Securities upped their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of Celestica from $58.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday. StockNews.com cut shares of Celestica from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Celestica from $65.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, 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.