Celestica (NYSE:CLS) Releases FY24 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY24 earnings guidance on Wednesday. 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.

Celestica Trading Down 1.9 %

CLS traded down $0.85 during trading on Thursday, reaching $43.25. 4,324,215 shares of the company’s stock were exchanged, compared to its average volume of 2,271,882. The company’s fifty day moving average price is $44.42 and its 200-day moving average price is $34.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The firm has a market capitalization of $5.16 billion, a PE ratio of 21.71 and a beta of 2.22. Celestica has a fifty-two week low of $10.50 and a fifty-two week high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last issued its 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. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. As a group, equities analysts forecast that Celestica will post 2.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Securities boosted their price target on Celestica from $33.00 to $40.00 and gave the company a buy rating in a report on Wednesday, January 31st. BMO Capital Markets boosted their price target on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research report on Monday. Royal Bank of Canada raised their price objective on shares of Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research report on Monday. Canaccord Genuity Group boosted their price objective on shares of Celestica from $32.50 to $38.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, CIBC raised their price target on 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. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $36.38.

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.