Celestica Inc (CLS) is Downgraded by Macquarie to Neutral

Celestica Inc (CLS) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on Jul 29, 2016.

Many Wall Street Analysts have commented on Celestica Inc. Celestica Inc was Initiated by Macquarie to “Outperform” on May 18, 2016.

On the company’s financial health, Celestica Inc reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.22. The company had revenue of $1353.30 million for the quarter, compared to analysts expectations of $1347.17 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Celestica Inc closed down -0.11 points or -0.97% at $11.21 with 2,68,072 shares getting traded on Thursday. Post opening the session at $11.33, the shares hit an intraday low of $11.1554 and an intraday high of $11.36 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Celestica Inc. (Celestica) is a provider of supply chain solutions globally to original equipment manufacturers (OEMs) and service providers in the communications consumer diversified servers and storage end markets. 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. The Company’s products and services serve a range of applications including servers; networking wireless and telecommunications equipment; storage systems; optical equipment; aerospace and defense electronics; healthcare products for diagnostic imaging; audiovisual equipment; set top boxes; printer supplies; semiconductor equipment and a range of industrial and green technology products.

Celestica Inc

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