Celestica (NYSE:CLS) Issues 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 Trading Up 0.8 %

NYSE:CLS traded up $0.34 during midday 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. Celestica has a one year low of $10.50 and a one year high of $51.12. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.77 and a beta of 2.22. The stock has a 50-day moving average of $44.32 and a 200 day moving average of $34.11. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. As a group, sell-side analysts forecast that Celestica will post 2.59 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Celestica from $32.50 to $38.00 and gave the company a buy rating in a report on Wednesday, January 31st. CIBC increased their price objective on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a report on Wednesday, January 31st. TD Securities increased their price objective on Celestica from $33.00 to $40.00 and gave the company a buy rating in a report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a report on Monday. Finally, StockNews.com lowered Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Celestica has an average rating of Moderate Buy and a consensus target price of $36.38.

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.