Celestica (NYSE:CLS) Releases Q4 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.99-$1.09 for the period, compared to the consensus EPS estimate of $0.95. The company issued revenue guidance of $2.425-$2.575 billion, compared to the consensus revenue estimate of $2.45 billion. Celestica also updated its FY 2024 guidance to 3.850-3.850 EPS.

Celestica Stock Performance

CLS stock opened at $69.38 on Friday. The stock has a market capitalization of $8.24 billion, a PE ratio of 25.89 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. The company has a 50 day moving average price of $52.42 and a 200 day moving average price of $52.27. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $70.07.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company earned $0.65 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Analysts forecast that Celestica will post 3.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CLS shares. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price objective on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets raised their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. Canaccord Genuity Group upped their price target on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

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.