Celestica (NYSE:CLS) Updates Q4 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.99-$1.09 for the period, compared to the consensus estimate of $0.95. The company issued revenue guidance of $2.425-$2.575 billion, compared to the consensus revenue estimate of $2.45 billion. Celestica also updated its FY 2024 guidance to 3.850-3.850 EPS.

Celestica Price Performance

Shares of NYSE:CLS traded up $1.33 during midday trading on Friday, reaching $69.27. 2,060,356 shares of the company’s stock traded hands, compared to its average volume of 2,263,728. Celestica has a 1 year low of $20.87 and a 1 year high of $70.07. The company has a market cap of $8.23 billion, a P/E ratio of 25.34 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. The company has a fifty day simple moving average of $52.13 and a two-hundred day simple moving average of $52.13.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue was up 24.8% on a year-over-year basis. Equities analysts predict that Celestica will post 3.22 EPS for the current fiscal year.

Analyst Ratings Changes

CLS has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Securities raised their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen raised their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their price objective on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

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.