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 $3.30 for the period, compared to the consensus earnings per share estimate of $2.93. The company issued revenue guidance of $9.1 billion, compared to the consensus revenue estimate of $8.78 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Celestica Stock Up 0.8 %

Shares of CLS traded up $0.34 during midday trading on Wednesday, reaching $44.10. 2,605,368 shares of the company were exchanged, compared to its average volume of 2,249,805. The stock has a 50-day moving average price of $44.32 and a 200-day moving average price of $34.11. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 21.77 and a beta of 2.22. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12. The company has a current ratio of 1.40, a quick ratio of 0.75 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. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. Research analysts expect that Celestica will post 2.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on CLS shares. TD Securities boosted their price objective on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. CIBC lifted their target price on Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. BMO Capital Markets lifted their target price on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research report on Monday. Canaccord Genuity Group lifted their target price on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Finally, StockNews.com lowered Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.