Celestica (NYSE:CLS) Stock Price Down 2.6% - Here's Why

Key Points

• Shares of Celestica (NYSE: CLS) fell by 2.6%, trading as low as $239.80 with a last price of $247.73.
• The company reported a quarterly earnings per share of $1.39, surpassing analysts' expectations of $1.23, with a revenue of $2.89 billion.
• Analysts have a consensus rating of "Buy" for Celestica, with target prices ranging from $174.75 to $240.00, indicating strong potential for future growth.

Shares of Celestica, Inc. (NYSE:CLS - Get Free Report) TSE: CLS dropped 2.6% on Wednesday . The stock traded as low as $239.80 and last traded at $247.73. Approximately 3,257,950 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 4,225,631 shares. The stock had previously closed at $254.39.

Analyst Ratings Changes

CLS has been the subject of several recent research reports. CICC Research initiated coverage on Celestica in a report on Tuesday, August 19th. They issued an "outperform" rating for the company. Canaccord Genuity Group boosted their target price on shares of Celestica from $126.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Citigroup boosted their target price on shares of Celestica from $172.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. UBS Group reiterated a "neutral" rating and issued a $208.00 target price (up from $101.00) on shares of Celestica in a report on Wednesday, July 30th. Finally, BNP Paribas upgraded shares of Celestica to a "strong-buy" rating in a report on Wednesday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $174.75.

Celestica Price Performance

The firm has a market cap of $28.50 billion, a PE ratio of 53.62 and a beta of 1.89. The company has a quick ratio of 0.86, a current ratio of 1.44 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average price of $196.83 and a two-hundred day moving average price of $137.02.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS last issued its quarterly earnings results on Monday, July 28th. The technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Celestica had a return on equity of 28.23% and a net margin of 5.11%.The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company's revenue was up 21.0% on a year-over-year basis. Celestica has set its Q3 2025 guidance at 1.370-1.530 EPS. FY 2025 guidance at 5.500-5.500 EPS. As a group, equities analysts expect that Celestica, Inc. will post 4.35 earnings per share for the current year.

Institutional Investors Weigh In On Celestica

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in Celestica by 1,103.8% in the first quarter. Jones Financial Companies Lllp now owns 24,486 shares of the technology company's stock valued at $1,930,000 after buying an additional 22,452 shares during the last quarter. Consolidated Planning Corp purchased a new stake in Celestica in the first quarter valued at approximately $3,361,000. Think Investments LP purchased a new stake in Celestica in the first quarter valued at approximately $14,939,000. Royal Bank of Canada boosted its position in Celestica by 1.5% in the first quarter. Royal Bank of Canada now owns 1,280,563 shares of the technology company's stock valued at $100,922,000 after buying an additional 19,391 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Celestica by 79.3% in the first quarter. BNP Paribas Financial Markets now owns 991,776 shares of the technology company's stock valued at $78,162,000 after buying an additional 438,762 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.