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 Stock Performance

NYSE:CLS traded up $0.34 during mid-day trading on Wednesday, hitting $44.10. The stock had a trading volume of 2,559,562 shares, compared to its average volume of 2,249,805. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.77 and a beta of 2.22. The company has a 50 day simple moving average of $44.32 and a 200-day simple moving average of $34.11. Celestica has a 52 week low of $10.50 and a 52 week high of $51.12. The company has a current ratio of 1.40, a quick ratio of 0.75 and a debt-to-equity ratio of 0.41.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com downgraded shares of Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. Canaccord Genuity Group boosted their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on shares of Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research report on Monday. TD Securities boosted their target price on shares of Celestica from $33.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Finally, BMO Capital Markets boosted their target price on shares of Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a report on Monday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $36.38.

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.