Celestica Stock Rating Lowered by Salman Partners (CLS)
Celestica (NYSE:CLS) was downgraded by equities researchers at Salman Partners to a “hold” rating in a research report issued on Wednesday, Analyst Ratings Network.com reports.
Celestica (NYSE:CLS) traded down 0.75% on Wednesday, hitting $11.047. The stock had a trading volume of 67,361 shares. Celestica has a 1-year low of $6.64 and a 1-year high of $11.32. The stock’s 50-day moving average is $10.85 and its 200-day moving average is $9.32. The company has a market cap of $2.035 billion and a price-to-earnings ratio of 24.14.
Celestica (NYSE:CLS) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.04. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company posted $0.22 earnings per share. Celestica’s revenue was down 14.3% compared to the same quarter last year. On average, analysts predict that Celestica will post $0.82 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Paradigm Capital downgraded shares of Celestica (NYSE:CLS) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 9th. Separately, analysts at Zacks upgraded shares of Celestica (NYSE:CLS) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, July 31st. They now have a $10.90 price target on the stock.
Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $10.25.
Celestica Inc (NYSE:CLS) is a provider of supply chain solutions globally to original equipment manufacturers (OEMs) and service providers in the communications, consumer, computing and diversified end markets.
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