Celestica (NYSE:CLS) Issues FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.300-3.300 for the period, compared to the consensus 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.

Analyst Ratings Changes

CLS has been the subject of a number of recent research reports. TD Securities lifted their price objective on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, January 31st. BMO Capital Markets lifted their price objective on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research note on Monday. Canaccord Genuity Group lifted their price objective on Celestica from $32.50 to $38.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Royal Bank of Canada raised their price target on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a report on Monday. Finally, StockNews.com lowered Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $36.38.

Celestica Stock Performance

Shares of CLS stock traded down $0.55 on Thursday, hitting $43.55. The company had a trading volume of 3,509,584 shares, compared to its average volume of 2,264,237. Celestica has a twelve month low of $10.50 and a twelve month 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 company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.19 billion, a P/E ratio of 21.71 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data 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 17.09% and a net margin of 3.07%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. As a group, equities research analysts predict that Celestica will post 2.59 earnings per share for the current fiscal 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.