Celestica (CLS) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Celestica (NYSE: CLS) announced its earnings results on Tuesday. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.01, StocKRatingsNetwork.com reports. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was down 18.8% on a year-over-year basis. Celestica updated its Q2 guidance to $0.13-0.19 EPS.
Several analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Celestica in a research note to investors on Wednesday, January 23rd. They now have a $8.00 price target on the stock, up previously from $7.00. On the ratings front, analysts at RBC Capital raised their price target on shares of Celestica from $8.00 to $9.00 in a research note to investors on Wednesday, January 23rd. They now have a “sector perform” rating on the stock. Finally, analysts at Paradigm Capital upgraded shares of Celestica from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, January 23rd. They now have a $10.00 price target on the stock, up previously from $9.00.
Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $8.98.
Celestica (NYSE: CLS) traded up 2.75% on Tuesday, hitting $7.86. Celestica has a 52-week low of $7.60 and a 52-week high of $9.28. The stock’s 50-day moving average is currently $8.07. The company has a market cap of $1.430 billion and a price-to-earnings ratio of 13.66.
Celestica Inc. (NYSE: CLS) is a provider of supply chain solutions globally to original equipment manufacturers (OEMs) and service providers in the communications, consumer, computing and diversified end markets.
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