Celestica (NYSE:CLS) Issues FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.300-3.300 for the period, compared to the consensus EPS estimate of 2.930. The company issued revenue guidance of $9.1 billion-$9.1 billion, compared to the consensus revenue estimate of $8.8 billion. Celestica also updated its FY24 guidance to $3.30 EPS.

Celestica Stock Up 0.8 %

Shares of Celestica stock traded up $0.34 during midday trading on Wednesday, hitting $44.10. The company’s stock had a trading volume of 2,605,368 shares, compared to its average volume of 2,249,805. 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 has a 1-year low of $10.50 and a 1-year high of $51.12. The stock has a 50-day simple moving average of $44.32 and a 200-day simple moving average of $34.11. The firm has a market capitalization of $5.26 billion, a P/E ratio of 21.77 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. As a group, sell-side analysts expect that Celestica will post 2.59 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on CLS shares. Canaccord Genuity Group raised their target price on Celestica from $32.50 to $38.00 and gave the company a buy rating in a report on Wednesday, January 31st. TD Securities raised their target price on Celestica from $33.00 to $40.00 and gave the company a buy rating in a report on Wednesday, January 31st. Royal Bank of Canada raised their target price on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a report on Monday. CIBC raised their target price on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Finally, StockNews.com lowered Celestica from a buy rating to a hold rating in a report on Wednesday, February 28th. 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, Celestica has a consensus rating of Moderate Buy and a consensus price target of $36.38.

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.