Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.75-0.85 for the period, compared to the consensus earnings per share estimate of $0.71. The company issued revenue guidance of $2.175-2.325 billion, compared to the consensus revenue estimate of $2.14 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.
Analysts Set New Price Targets
Several brokerages have issued reports on CLS. Canaccord Genuity Group lifted their price target on shares of Celestica from $48.00 to $53.00 and gave the company a buy rating in a research note on Friday. BMO Capital Markets lifted their target price on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research report on Monday. Royal Bank of Canada increased their price target on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research report on Monday. StockNews.com lowered Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus increased their price target on shares of Celestica from $36.00 to $48.00 and gave the company a hold rating in a research note on Friday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $41.50.
View Our Latest Report on Celestica
Celestica Price Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last issued its earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. Analysts expect that Celestica will post 2.59 earnings per share for the current 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.
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