Celestica (NYSE:CLS) Issues Q3 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.86-0.96 for the period, compared to the consensus EPS estimate of $0.82. The company issued revenue guidance of $2.325-2.475 billion, compared to the consensus revenue estimate of $2.29 billion. Celestica also updated its FY 2024 guidance to 3.620-3.620 EPS.

Analysts Set New Price Targets

Several analysts have recently issued reports on CLS shares. Canaccord Genuity Group upped their price objective on Celestica from $48.00 to $53.00 and gave the stock a buy rating in a report on Friday, April 26th. Stifel Nicolaus boosted their target price on Celestica from $48.00 to $51.00 and gave the company a hold rating in a research report on Monday, May 13th. BMO Capital Markets boosted their target price on Celestica from $53.00 to $63.00 and gave the company an outperform rating in a research report on Monday, June 17th. Fox Advisors began coverage on Celestica in a research report on Wednesday, May 15th. They set an overweight rating and a $60.00 target price on the stock. Finally, CIBC boosted their target price on Celestica from $49.00 to $58.00 and gave the company a neutral rating in a research report on Monday, May 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $48.33.

Celestica Trading Down 7.8 %

Celestica stock traded down $4.50 during mid-day trading on Wednesday, hitting $53.38. The company’s stock had a trading volume of 3,990,408 shares, compared to its average volume of 2,247,742. The company has a 50 day moving average of $56.59 and a 200-day moving average of $46.56. The stock has a market cap of $6.34 billion, a PE ratio of 20.12 and a beta of 2.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.42. Celestica has a one year low of $16.25 and a one year high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.10 billion. Celestica had a return on equity of 18.25% and a net margin of 3.86%. On average, research analysts anticipate that Celestica will post 2.87 EPS for the current year.

Celestica Company Profile

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.