Celestica (NYSE:CLS) Updates FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.300-3.300 for the period, compared to the consensus earnings per share estimate of 2.930. The company issued revenue guidance of $9.1 billion-$9.1 billion, compared to the consensus revenue estimate of $8.8 billion. Celestica also updated its FY24 guidance to $3.30 EPS.

Celestica Trading Down 1.2 %

Shares of NYSE CLS traded down $0.55 during trading on Thursday, hitting $43.55. 3,509,584 shares of the company traded hands, compared to its average volume of 2,264,237. Celestica has a 1 year low of $10.50 and a 1 year high of $51.12. The company has a 50-day moving average price of $44.42 and a 200-day moving average price of $34.18. The firm has a market capitalization of $5.19 billion, a P/E ratio of 21.71 and a beta of 2.22. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.07% and a return on equity of 17.09%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. On average, equities analysts predict that Celestica will post 2.59 EPS for the current year.

Analysts Set New Price Targets

CLS has been the subject of a number of research analyst reports. TD Securities upped their target price on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. BMO Capital Markets upped their price target on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a report on Monday. CIBC upped their price target on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Royal Bank of Canada upped their price target on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a report on Monday. Finally, Canaccord Genuity Group boosted their target price on shares of Celestica from $32.50 to $38.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target 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.