Celestica (NYSE:CLS) Releases Q2 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.750-0.850 for the period, compared to the consensus 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.

Celestica Price Performance

NYSE:CLS traded down $0.02 during trading hours on Thursday, reaching $44.08. 3,335,945 shares of the company were exchanged, compared to its average volume of 2,263,420. The business has a 50 day moving average of $44.42 and a 200 day moving average of $34.18. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The company has a market capitalization of $5.26 billion, a P/E ratio of 21.75 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company 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%. Research analysts forecast that Celestica will post 2.59 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CLS. Royal Bank of Canada increased their price objective on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research report on Monday. CIBC lifted their price target on shares of Celestica from $33.00 to $41.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upped their price target on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. BMO Capital Markets boosted their target price on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research report on Monday. Finally, TD Securities upped their target price on shares of Celestica from $33.00 to $40.00 and gave the company a buy rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $36.38.

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.