Celestica (NYSE:CLS) Updates Q2 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.750-0.850 for the period, compared to the consensus earnings per share estimate of 0.710. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.1 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Celestica Stock Up 0.5 %

Shares of NYSE CLS traded up $0.21 during midday trading on Friday, reaching $43.46. 3,271,523 shares of the company’s stock traded hands, compared to its average volume of 2,323,659. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $44.57 and its 200-day simple moving average is $34.36. Celestica has a one year low of $10.50 and a one year high of $51.12. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 16.21 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.21%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. On average, analysts predict that Celestica will post 2.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CLS shares. BMO Capital Markets increased their target price on shares of Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research report on Monday, April 22nd. TD Securities increased their target price on shares of Celestica from $33.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, January 31st. StockNews.com cut shares of Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. Royal Bank of Canada increased their target price on shares of Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research report on Monday, April 22nd. Finally, Canaccord Genuity Group raised their price target on shares of Celestica from $48.00 to $53.00 and gave the stock a buy rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Celestica has a consensus rating of Moderate Buy and a consensus target price of $41.50.

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.