Celestica (NYSE:CLS) Updates FY24 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.62 for the period, compared to the consensus earnings per share estimate of $3.33. The company issued revenue guidance of $9.45 billion, compared to the consensus revenue estimate of $9.13 billion. Celestica also updated its FY 2024 guidance to 3.620-3.620 EPS.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CLS. Canaccord Genuity Group raised their price target on Celestica from $48.00 to $53.00 and gave the company a buy rating in a research note on Friday, April 26th. Royal Bank of Canada raised their price target on Celestica from $53.00 to $63.00 and gave the company an outperform rating in a research note on Monday. Stifel Nicolaus raised their price target on Celestica from $51.00 to $58.00 and gave the company a hold rating in a research note on Friday. BMO Capital Markets raised their price target on Celestica from $53.00 to $63.00 and gave the company an outperform rating in a research note on Monday, June 17th. Finally, Canaccord Genuity Group raised their price target on Celestica from $53.00 to $70.00 and gave the company a buy rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $54.44.

Celestica Stock Performance

Shares of CLS traded up $1.60 during midday trading on Friday, reaching $52.67. 3,035,319 shares of the stock were exchanged, compared to its average volume of 2,285,801. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 19.76 and a beta of 2.31. Celestica has a twelve month low of $17.73 and a twelve month high of $63.49. The business’s 50-day moving average price is $56.59 and its 200 day moving average price is $46.63. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Celestica had a return on equity of 20.14% and a net margin of 4.16%. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, sell-side analysts expect that Celestica will post 2.88 EPS for the current fiscal 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.