Celestica (NYSE:CLS) Releases FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.620-3.620 for the period, compared to the consensus earnings per share estimate of 3.330. The company issued revenue guidance of $9.5 billion-$9.5 billion, compared to the consensus revenue estimate of $9.1 billion. Celestica also updated its FY24 guidance to $3.62 EPS.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Celestica from $51.00 to $58.00 and gave the company a hold rating in a research report on Friday. Canaccord Genuity Group lifted their target price on Celestica from $48.00 to $53.00 and gave the company a buy rating in a research report on Friday, April 26th. CIBC lifted their target price on Celestica from $58.00 to $60.00 and gave the company a neutral rating in a research report on Friday. Fox Advisors assumed coverage on Celestica in a research report on Wednesday, May 15th. They set an overweight rating and a $60.00 target price on the stock. Finally, StockNews.com raised Celestica from a hold rating to a buy rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $54.44.

Celestica Stock Performance

Celestica stock traded up $1.60 during mid-day trading on Friday, reaching $52.67. 3,249,009 shares of the company’s stock were exchanged, compared to its average volume of 2,098,166. The business’s fifty day simple moving average is $56.61 and its 200 day simple moving average is $46.80. The firm has a market capitalization of $6.26 billion, a PE ratio of 19.66 and a beta of 2.31. Celestica has a one year low of $17.73 and a one year high of $63.49. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 0.45.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results 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 for the quarter, compared to analyst estimates of $2.25 billion. Celestica had a return on equity of 20.14% and a net margin of 4.16%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, sell-side analysts expect that Celestica will post 2.88 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.