Celestica, Inc. (NYSE:CLS) (TSE:CLS) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $0.27-0.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.34. The company issued revenue guidance of $1.5-1.6 billion, compared to the consensus revenue estimate of $1.63 billion.
Several analysts have recently issued reports on the stock. TheStreet downgraded shares of Celestica from a b rating to a c+ rating in a research note on Thursday. Standpoint Research upgraded shares of Celestica from a hold rating to a buy rating in a report on Thursday, August 17th. They noted that the move was a valuation call. Royal Bank Of Canada lowered their price target on shares of Celestica from $15.00 to $13.00 and set a sector perform rating for the company in a report on Friday, October 27th. BMO Capital Markets lowered their price target on shares of Celestica from $14.50 to $13.40 and set a market perform rating for the company in a report on Wednesday, July 26th. Finally, Canaccord Genuity restated a buy rating and set a $14.00 price objective on shares of Celestica in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Celestica presently has an average rating of Hold and an average price target of $13.93.
Celestica, Inc. (NYSE CLS) remained flat at $$10.56 during midday trading on Friday. 754,400 shares of the company were exchanged, compared to its average volume of 406,987. The company has a quick ratio of 1.15, a current ratio of 2.01 and a debt-to-equity ratio of 0.13. Celestica, Inc. has a twelve month low of $9.79 and a twelve month high of $14.74. The stock has a market cap of $1,517.32, a PE ratio of 10.06 and a beta of 0.68.
Celestica announced that its board has authorized a share repurchase program on Thursday, October 26th that authorizes the company to buyback 1,000% of shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
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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