Celestica (NYSE:CLS) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS
Celestica (NYSE:CLS) (TSE:CLS) announced its earnings results on Wednesday. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.10, Fidelity Earnings reports. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Celestica had a negative net margin of 0.07% and a positive return on equity of 5.11%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 EPS.
Celestica stock traded down $0.16 during midday trading on Friday, reaching $8.16. The stock had a trading volume of 14,528 shares, compared to its average volume of 334,530. The company has a quick ratio of 1.03, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. Celestica has a 52-week low of $2.63 and a 52-week high of $9.29. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -410.79, a price-to-earnings-growth ratio of 0.97 and a beta of 2.17. The company has a fifty day moving average of $6.80 and a 200 day moving average of $6.36.
CLS has been the topic of several recent research reports. TD Securities upped their target price on shares of Celestica from $6.50 to $8.00 and gave the company a “hold” rating in a research report on Thursday. BMO Capital Markets upped their target price on shares of Celestica from $7.00 to $8.50 and gave the company a “market perform” rating in a research report on Thursday. Pi Financial restated a “buy” rating and set a $11.40 target price on shares of Celestica in a research report on Monday. Stifel Nicolaus upped their target price on shares of Celestica from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their target price on shares of Celestica from $7.50 to $8.50 and gave the company a “sector perform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.35.
Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.
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