Celestica (TSE:CLS) Trading Down 12.8% – Here’s What Happened

Celestica Inc. (TSE:CLS) (NYSE:CLS) shares traded down 12.8% during mid-day trading on Thursday . The company traded as low as C$431.01 and last traded at C$443.66. 431,362 shares were traded during trading, a decline of 10% from the average daily volume of 479,415 shares. The stock had previously closed at C$508.54.

Analyst Ratings Changes

CLS has been the topic of several research analyst reports. TD Securities raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. TD upgraded shares of Celestica from a “hold” rating to a “buy” rating and lifted their price target for the company from C$350.00 to C$430.00 in a report on Wednesday, April 29th. Five analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average price target of C$367.50.

Celestica Stock Performance

The business has a 50 day moving average of C$506.20 and a 200 day moving average of C$463.34. The company has a market capitalization of C$51.25 billion, a P/E ratio of 54.02, a price-to-earnings-growth ratio of 0.14 and a beta of 1.53. The company has a quick ratio of 0.54, a current ratio of 1.23 and a debt-to-equity ratio of 39.57.

Celestica (TSE:CLS) (NYSE:CLS) last released its quarterly earnings results on Monday, July 27th. The company reported C$3.61 earnings per share for the quarter. The business had revenue of C$6.68 billion during the quarter. Celestica had a return on equity of 50.28% and a net margin of 7.15%. On average, sell-side analysts predict that Celestica Inc. will post 5.028804 earnings per share for the current year.

About Celestica

Celestica Inc offers supply chain solutions. The firm operates in two segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). ATS segment consists of the ATS end market and is comprised of A&D, Industrial, Energy, HealthTech, and Capital Equipment businesses. Capital Equipment business is comprised of our semiconductor, display, and power & signal distribution equipment businesses. CCS segment that derives majority revenue consists of Communications and Enterprise end markets.