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 Up 2.1 %

Shares of CLS stock opened at $69.38 on Friday. The firm’s fifty day moving average price is $52.42 and its two-hundred day moving average price is $52.27. Celestica has a 1 year low of $20.87 and a 1 year high of $70.07. The company has a current ratio of 1.47, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $8.24 billion, a P/E ratio of 25.89 and a beta of 2.28.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on CLS. CIBC raised their target price on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. TD Securities boosted their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada increased their target price on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus increased their price objective on Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

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.