Celestica (NYSE:CLS) Updates FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.850-3.850 for the period, compared to the consensus EPS estimate of 3.650. The company issued revenue guidance of $9.6 billion-$9.6 billion, compared to the consensus revenue estimate of $9.5 billion. Celestica also updated its FY 2025 guidance to 4.420-4.420 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CLS. Canaccord Genuity Group increased their price target on shares of Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Securities increased their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. CIBC lifted their price target on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, TD Cowen boosted their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Celestica Price Performance

CLS traded up $10.03 on Thursday, hitting $67.50. 6,438,095 shares of the company’s stock were exchanged, compared to its average volume of 2,259,531. The firm has a 50-day moving average price of $51.89 and a 200-day moving average price of $52.02. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 24.89 and a beta of 2.28. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $68.44.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities analysts anticipate that Celestica will post 3.22 earnings per share for the current 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.