Celestica (NYSE:CLS) Releases Q2 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.750-0.850 for the period, compared to the consensus earnings per share estimate of 0.710. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.1 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Celestica Trading Up 0.8 %

CLS stock traded up $0.34 during mid-day trading on Wednesday, hitting $44.10. 2,605,368 shares of the company were exchanged, compared to its average volume of 2,249,805. Celestica has a 12-month low of $10.50 and a 12-month high of $51.12. The firm has a market capitalization of $5.26 billion, a P/E ratio of 21.77 and a beta of 2.22. The business has a fifty day simple moving average of $44.32 and a 200-day simple moving average of $34.11. 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 (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a net margin of 3.07% and a return on equity of 17.09%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. On average, equities research analysts predict that Celestica will post 2.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CLS shares. CIBC boosted their price objective on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a report on Wednesday, January 31st. BMO Capital Markets boosted their price target on shares of Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research note on Monday. StockNews.com lowered shares of Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Canaccord Genuity Group upped their target price on shares of Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada raised their price target on shares of Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research report on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Celestica presently has a consensus rating of Moderate Buy and an average target price 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.