Celestica (NYSE:CLS) Issues Q3 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.86-0.96 for the period, compared to the consensus EPS estimate of $0.82. The company issued revenue guidance of $2.325-2.475 billion, compared to the consensus revenue estimate of $2.29 billion. Celestica also updated its FY 2024 guidance to 3.620-3.620 EPS.

Celestica Stock Down 4.3 %

Shares of NYSE CLS traded down $2.31 during midday trading on Thursday, hitting $51.08. 6,867,840 shares of the company’s stock were exchanged, compared to its average volume of 2,276,595. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. Celestica has a twelve month low of $16.28 and a twelve month high of $63.49. The company has a market cap of $6.07 billion, a PE ratio of 19.41 and a beta of 2.31. The firm’s fifty day simple moving average is $56.62 and its 200-day simple moving average is $46.60.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. Celestica had a return on equity of 18.25% and a net margin of 3.86%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the company earned $0.55 EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. Research analysts predict that Celestica will post 2.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CLS shares. Canaccord Genuity Group raised their target price on Celestica from $48.00 to $53.00 and gave the stock a buy rating in a research report on Friday, April 26th. StockNews.com lowered Celestica from a buy rating to a hold rating in a research report on Friday, May 24th. Royal Bank of Canada lifted their price target on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a research report on Monday. Fox Advisors assumed coverage on Celestica in a research report on Wednesday, May 15th. They set an overweight rating and a $60.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a research report on Monday, June 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $48.33.

Celestica Company Profile

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.