Celestica (NYSE:CLS) Issues Q3 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.860-0.960 for the period, compared to the consensus earnings per share estimate of 0.820. The company issued revenue guidance of $2.3 billion-$2.5 billion, compared to the consensus revenue estimate of $2.3 billion. Celestica also updated its FY 2024 guidance to 3.620-3.620 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets raised their price target on Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a research report on Monday, June 17th. Royal Bank of Canada boosted their price target on Celestica from $53.00 to $63.00 and gave the company an outperform rating in a report on Monday. Stifel Nicolaus raised their price objective on Celestica from $51.00 to $58.00 and gave the stock a hold rating in a report on Friday. Canaccord Genuity Group upped their target price on Celestica from $48.00 to $53.00 and gave the company a buy rating in a research note on Friday, April 26th. Finally, Fox Advisors initiated coverage on Celestica in a research note on Wednesday, May 15th. They issued an overweight rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $54.44.

Celestica Trading Up 3.3 %

NYSE:CLS traded up $1.69 on Friday, hitting $52.76. 2,410,424 shares of the stock were exchanged, compared to its average volume of 2,281,431. The stock has a fifty day moving average of $56.59 and a 200-day moving average of $46.63. The stock has a market cap of $6.27 billion, a PE ratio of 19.76 and a beta of 2.31. The company has a current ratio of 1.42, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. Celestica has a fifty-two week low of $17.73 and a fifty-two week high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 20.14%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. Celestica’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities analysts expect that Celestica will post 2.88 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.