Celestica (NYSE:CLS) Releases 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 (EPS) guidance of 0.750-0.850 for the period, compared to the consensus 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 Down 0.0 %

NYSE CLS traded down $0.02 during trading on Thursday, hitting $44.08. The company’s stock had a trading volume of 3,335,945 shares, compared to its average volume of 2,263,420. The company has a market cap of $5.26 billion, a PE ratio of 21.75 and a beta of 2.22. The business’s 50 day simple moving average is $44.42 and its 200-day simple moving average is $34.18. Celestica has a fifty-two week low of $10.50 and a fifty-two week high of $51.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on CLS shares. StockNews.com cut shares of Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. TD Securities boosted their price objective on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Canaccord Genuity Group lifted their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a report on Wednesday, January 31st. BMO Capital Markets boosted their target price on shares of Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research note on Monday. Finally, Royal Bank of Canada raised their target price on shares of Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average 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.