Celestica (NYSE:CLS) Updates FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.620-3.620 for the period, compared to the consensus estimate of 3.330. The company issued revenue guidance of $9.5 billion-$9.5 billion, compared to the consensus revenue estimate of $9.1 billion. Celestica also updated its FY24 guidance to $3.62 EPS.

Wall Street Analyst Weigh In

CLS has been the topic of several research reports. BMO Capital Markets upped their price objective on shares of Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, June 17th. Fox Advisors began coverage on shares of Celestica in a research report on Wednesday, May 15th. They issued an overweight rating and a $60.00 price target on the stock. Stifel Nicolaus lifted their price target on Celestica from $51.00 to $58.00 and gave the company a hold rating in a research note on Friday. StockNews.com raised Celestica from a hold rating to a buy rating in a research note on Thursday. Finally, Canaccord Genuity Group upped their price target on Celestica from $53.00 to $70.00 and gave the stock a buy rating in a report on Friday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $54.44.

Celestica Stock Performance

Celestica stock traded up $1.69 during mid-day trading on Friday, reaching $52.76. 2,410,424 shares of the company’s stock were exchanged, compared to its average volume of 2,281,431. The firm has a market capitalization of $6.27 billion, a PE ratio of 19.76 and a beta of 2.31. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $56.59 and its 200 day simple moving average is $46.63. Celestica has a one year low of $17.73 and a one year high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 20.14%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. On average, sell-side analysts expect that Celestica will post 2.88 earnings per share for the current year.

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.