Celestica Inc (CLS) Sets New 52-Week Low After Analyst Downgrade

Shares of Celestica Inc (TSE:CLS) (NYSE:CLS) hit a new 52-week low during mid-day trading 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 trading hands. The stock had previously closed at C$15.29.

A number of other analysts have also recently weighed in on CLS. BMO Capital Markets reiterated a “market perform” rating and set a C$12.50 price target on shares of Celestica in a research report on Friday. Royal Bank Of Canada dropped their price target on Celestica to C$16.50 and set a “sector perform” rating on the stock in a research report on Friday.

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

Celestica (TSE:CLS) (NYSE:CLS) last announced its quarterly earnings results on Tuesday, July 25th. The company reported C$0.32 EPS for the quarter, hitting analysts’ consensus estimates of C$0.32. The firm 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 analysts predict that Celestica Inc will post $1.27 earnings per share for the current fiscal year.

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Celestica Company Profile

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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