Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) updated its second quarter 2024 earnings guidance on Wednesday. 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.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CLS. BMO Capital Markets upped their price target on shares of Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research report on Monday. Canaccord Genuity Group boosted their price objective on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a report on Wednesday, January 31st. 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. StockNews.com cut Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. Finally, CIBC boosted their price objective on Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $36.38.
Get Our Latest Analysis on Celestica
Celestica Stock Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. On average, analysts forecast that Celestica will post 2.59 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.
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