Celestica Inc Forecasted to Earn Q3 2017 Earnings of $0.24 Per Share (CLS)

Celestica Inc (TSE:CLS) (NYSE:CLS) – Equities researchers at Beacon Securities cut their Q3 2017 EPS estimates for Celestica in a research note issued to investors on Wednesday. Beacon Securities analyst G. Leung now anticipates that the company will post earnings of $0.24 per share for the quarter, down from their prior forecast of $0.30. Beacon Securities also issued estimates for Celestica’s Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.86 EPS and FY2018 earnings at $1.20 EPS.

Several other analysts have also recently weighed in on the stock. Scotiabank increased their price target on shares of Celestica from C$13.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Monday, April 17th. TD Securities reissued a “hold” rating and issued a C$16.00 price target on shares of Celestica in a research note on Monday, April 17th. Royal Bank of Canada increased their price target on shares of Celestica from C$13.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Friday, April 21st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$15.50 price target on shares of Celestica in a research note on Friday, April 21st.

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Celestica (TSE CLS) opened at 14.87 on Monday. The firm’s 50 day moving average price is $17.32 and its 200 day moving average price is $18.17. Celestica has a 12 month low of $12.66 and a 12 month high of $19.94. The stock has a market cap of $2.13 billion and a price-to-earnings ratio of 16.16.

Celestica (TSE:CLS) (NYSE:CLS) last announced its earnings results on Tuesday, July 25th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. Celestica had a return on equity of 7.28% and a net margin of 1.55%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $1.98 billion.

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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