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 3.300-3.300 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 FY24 guidance to $3.30 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CLS. Royal Bank of Canada increased their target price on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research note on Monday, April 22nd. Stifel Nicolaus raised their price objective on Celestica from $36.00 to $48.00 and gave the company a hold rating in a research note on Friday. TD Securities raised their price objective on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, January 31st. StockNews.com downgraded Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Finally, CIBC reaffirmed a neutral rating and issued a $49.00 price objective (up from $41.00) on shares of Celestica in a research note on Friday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $41.50.

Celestica Trading Up 0.5 %

Celestica stock traded up $0.21 during midday trading on Friday, reaching $43.46. The stock had a trading volume of 3,271,523 shares, compared to its average volume of 2,323,659. Celestica has a twelve month low of $10.50 and a twelve month high of $51.12. The stock has a market capitalization of $5.18 billion, a PE ratio of 16.21 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The stock’s 50-day simple moving average is $44.57 and its 200 day simple moving average is $34.36.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Analysts expect that Celestica will post 2.59 EPS for the current 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.