Celestica (NYSE:CLS) Updates FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.850-3.850 for the period, compared to the consensus EPS estimate of 3.650. The company issued revenue guidance of $9.6 billion-$9.6 billion, compared to the consensus revenue estimate of $9.5 billion. Celestica also updated its FY 2025 guidance to 4.420-4.420 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Nicolaus upgraded shares of Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, September 9th. Canaccord Genuity Group lifted their target price on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. CIBC lifted their price objective on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of Celestica from $53.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, TD Securities upped their target price on shares of Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.88.

Celestica Price Performance

Shares of NYSE:CLS traded up $1.46 during trading on Wednesday, reaching $57.46. The stock had a trading volume of 3,462,220 shares, compared to its average volume of 2,238,517. The stock has a market capitalization of $6.83 billion, a PE ratio of 20.89 and a beta of 2.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. Celestica has a 52 week low of $20.87 and a 52 week high of $64.56. The business’s 50-day moving average price is $51.78 and its 200 day moving average price is $51.99.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, equities analysts predict that Celestica will post 3.22 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.