Celestica (NYSE:CLS) Updates FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.850-3.850 for the period, compared to the consensus estimate of 3.650. The company issued revenue guidance of $9.6 billion-$9.6 billion, compared to the consensus revenue estimate of $9.5 billion. Celestica also updated its FY 2025 guidance to 4.420-4.420 EPS.

Celestica Trading Up 2.6 %

Shares of CLS stock traded up $1.46 on Wednesday, reaching $57.46. 3,462,220 shares of the stock were exchanged, compared to its average volume of 2,238,517. The stock has a 50 day moving average price of $51.78 and a 200 day moving average price of $51.99. The stock has a market cap of $6.83 billion, a PE ratio of 20.89 and a beta of 2.28. Celestica has a one year low of $20.87 and a one year high of $64.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86.

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. Equities research analysts forecast that Celestica will post 3.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLS has been the topic of several analyst reports. CIBC increased their price objective on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. TD Securities upped their price objective on Celestica from $61.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.88.

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.