Celestica (TSE:CLS) Hits New 52-Week Low - Here's Why

Key Points

• Celestica hit a new 52-week low, trading as low as C$323.50 and last at C$330.00, down from the previous close of C$363.50.
• Despite the selloff, analyst sentiment remains bullish: seven analysts rate the stock Strong Buy and two rate it Buy, with a consensus price target of C$430.
• Celestica reported quarterly earnings of C$4.70 per share on C$8.30 billion in revenue; analysts expect C$5.03 per share for the current fiscal year.

Celestica Inc. (TSE:CLS - Get Free Report) NYSE: CLS's stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as C$323.50 and last traded at C$330.00, with a volume of 479,146 shares. The stock had previously closed at C$363.50.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLS. Scotiabank raised shares of Celestica to a "strong-buy" rating in a report on Tuesday, August 11th. UBS Group upgraded shares of Celestica from a "hold" rating to a "buy" rating and set a C$430.00 target price on the stock in a report on Monday, August 24th. FBN Securities upgraded shares of Celestica to a "strong-buy" rating in a report on Tuesday, September 15th. Finally, Sanford C. Bernstein raised shares of Celestica to a "strong-buy" rating in a research note on Wednesday, September 30th. Seven investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Strong Buy" and a consensus price target of C$430.00.

Celestica Stock Performance

The firm has a market capitalization of C$41.58 billion, a PE ratio of 31.10, a P/E/G ratio of 0.14 and a beta of 1.36. The company has a debt-to-equity ratio of 13.18, a current ratio of 1.61 and a quick ratio of 0.54. The firm has a fifty day moving average price of C$454.03 and a 200 day moving average price of C$459.53.

Celestica (TSE:CLS - Get Free Report) NYSE: CLS last issued its quarterly earnings results on Monday, October 26th. The company reported C$4.70 earnings per share for the quarter. Celestica had a return on equity of 38.32% and a net margin of 6.83%. The firm had revenue of C$8.30 billion for the quarter. Research analysts anticipate that Celestica Inc. will post 5.03 earnings per share for the current fiscal year.

Celestica Company Profile

Celestica is a technology leader dedicated to driving customer success and market advancements. With deep expertise in design, engineering, manufacturing, supply chain, and platform solutions, Celestica enables critical data center infrastructure for AI, cloud and hybrid cloud, and advances technologies in high-growth markets. With a talented team and a strategic global network, Celestica helps its customers achieve competitive advantages.

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