Celestica (NYSE:CLS) Updates FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.300-3.300 for the period, compared to the consensus earnings per share estimate of 2.930. The company issued revenue guidance of $9.1 billion-$9.1 billion, compared to the consensus revenue estimate of $8.8 billion. Celestica also updated its Q2 2024 guidance to 0.750-0.850 EPS.

Celestica Trading Up 0.8 %

Shares of CLS traded up $0.34 during mid-day trading on Wednesday, hitting $44.10. 2,559,562 shares of the company’s stock traded hands, compared to its average volume of 2,249,805. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. Celestica has a 1 year low of $10.50 and a 1 year high of $51.12. The firm has a market capitalization of $5.26 billion, a P/E ratio of 21.77 and a beta of 2.22. The business’s 50-day moving average price is $44.32 and its 200-day moving average price is $34.11.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. As a group, sell-side analysts forecast that Celestica will post 2.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CLS. StockNews.com cut Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. CIBC upped their price target on Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Canaccord Genuity Group upped their price target on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Royal Bank of Canada boosted their target price on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a report on Monday. Finally, BMO Capital Markets boosted their target price on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Celestica has a consensus rating of Moderate Buy and an average target price of $36.38.

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.