Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.990-1.090 for the period, compared to the consensus estimate of 0.950. The company issued revenue guidance of $2.4 billion-$2.6 billion, compared to the consensus revenue estimate of $2.5 billion. Celestica also updated its FY 2024 guidance to 3.850-3.850 EPS.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Monday, September 9th. CIBC upped their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. TD Securities boosted their target price on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Canaccord Genuity Group boosted their target price on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Celestica currently has an average rating of “Moderate Buy” and a consensus price target of $61.88.
Check Out Our Latest Report on CLS
Celestica Stock Up 2.6 %
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned $0.55 EPS. Celestica’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, research analysts expect 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.
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