Celestica (NYSE:CLS) Posts Earnings Results, Beats Expectations By $0.07 EPS

Celestica (NYSE:CLS) (TSE:CLS) released its quarterly earnings results on Wednesday. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.07, Zacks reports. Celestica had a return on equity of 30.53% and a net margin of 6.35%.

Celestica Trading Up 3.8%

Shares of CLS stock traded up $12.50 during trading hours on Wednesday, hitting $345.67. 5,073,723 shares of the company were exchanged, compared to its average volume of 2,782,897. The company has a 50 day simple moving average of $310.09 and a two-hundred day simple moving average of $264.95. The firm has a market cap of $39.77 billion, a P/E ratio of 56.12 and a beta of 1.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47. Celestica has a fifty-two week low of $58.05 and a fifty-two week high of $363.40.

Analyst Ratings Changes

Several equities analysts have issued reports on CLS shares. New Street Research set a $400.00 price target on shares of Celestica in a research report on Wednesday, October 29th. Aletheia Capital increased their price objective on Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Zacks Research downgraded Celestica from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen raised Celestica from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Celestica in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $344.24.

Insider Activity at Celestica

In other news, Director Laurette T. Koellner purchased 6,000 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average price of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the acquisition, the director owned 6,000 shares in the company, valued at approximately $2,050,020. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Large investors have recently modified their holdings of the company. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Celestica by 108.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 250 shares of the technology company’s stock valued at $62,000 after purchasing an additional 130 shares during the period. Wexford Capital LP bought a new position in Celestica in the 3rd quarter worth approximately $73,000. Coldstream Capital Management Inc. purchased a new position in shares of Celestica in the third quarter valued at $213,000. Equitable Holdings Inc. purchased a new position in Celestica during the 3rd quarter valued at about $221,000. Finally, von Borstel & Associates Inc. purchased a new position in Celestica during the third quarter valued at approximately $236,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.