Celestica (NYSE:CLS) Releases 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.

Wall Street Analysts Forecast Growth

CLS has been the subject of several analyst reports. Canaccord Genuity Group increased their price target on shares of Celestica from $32.50 to $38.00 and gave the company a buy rating in a research report on Wednesday, January 31st. StockNews.com downgraded Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. Royal Bank of Canada lifted their price objective on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a report on Monday. BMO Capital Markets lifted their price target on shares of Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research note on Monday. Finally, CIBC upped their price target on shares of Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. 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 data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $36.38.

Celestica Trading Down 1.9 %

NYSE CLS traded down $0.85 during trading hours on Thursday, hitting $43.25. 4,324,215 shares of the company were exchanged, compared to its average volume of 2,271,882. The stock has a market cap of $5.16 billion, a PE ratio of 21.71 and a beta of 2.22. Celestica has a 52 week low of $10.50 and a 52 week high of $51.12. The stock 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.

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