Celestica Inc (CLS) Sets New 1-Year Low on Analyst Downgrade

Shares of Celestica Inc (TSE:CLS) (NYSE:CLS) reached a new 52-week low on Friday after TD Securities lowered their price target on the stock to C$14.75. TD Securities currently has a hold rating on the stock. Celestica traded as low as C$13.49 and last traded at C$13.53, with a volume of 766,868 shares. The stock had previously closed at C$15.29.

Several other research firms have also weighed in on CLS. BMO Capital Markets reaffirmed a “market perform” rating and set a C$14.50 price objective on shares of Celestica in a report on Wednesday, July 26th. Royal Bank Of Canada dropped their price objective on shares of Celestica to C$16.50 and set a “sector perform” rating for the company in a report on Friday.

The company has a market capitalization of $1.98 billion and a price-to-earnings ratio of 15.00. The firm’s 50 day moving average price is $15.32 and its 200 day moving average price is $16.88.

Celestica (TSE:CLS) (NYSE:CLS) last released its quarterly earnings data on Tuesday, July 25th. The company reported C$0.32 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of C$0.32. The business had revenue of C$2.10 billion during the quarter, compared to analysts’ expectations of C$1.98 billion. Celestica had a net margin of 2.21% and a return on equity of 10.63%. On average, equities research analysts expect that Celestica Inc will post $1.27 EPS for the current year.

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About Celestica

Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.

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