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 guidance of 3.850-3.850 for the period, compared to the consensus earnings per share estimate of 3.650. The company issued revenue guidance of $9.6 billion-$9.6 billion, compared to the consensus revenue estimate of $9.5 billion. Celestica also updated its FY 2025 guidance to 4.420-4.420 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. TD Securities raised their price target on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Monday, September 9th. Royal Bank of Canada lifted their target price on Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, CIBC upped their price target on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.88.

Celestica Stock Performance

Shares of CLS stock traded up $1.47 on Wednesday, hitting $57.47. The company’s stock had a trading volume of 3,456,590 shares, compared to its average volume of 2,238,517. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $64.56. The stock’s 50 day moving average is $51.78 and its 200-day moving average is $51.99. The company has a market capitalization of $6.83 billion, a PE ratio of 20.89 and a beta of 2.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. Equities research analysts expect that Celestica will post 3.22 earnings per share for the current fiscal 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.