Celestica (NYSE:CLS) Updates Q3 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.860-0.960 for the period, compared to the consensus earnings per share estimate of 0.820. The company issued revenue guidance of $2.3 billion-$2.5 billion, compared to the consensus revenue estimate of $2.3 billion. Celestica also updated its FY 2024 guidance to 3.620-3.620 EPS.

Celestica Stock Down 4.3 %

NYSE CLS traded down $2.31 on Thursday, hitting $51.08. The stock had a trading volume of 6,867,840 shares, compared to its average volume of 2,276,595. The business’s fifty day moving average price is $56.62 and its 200 day moving average price is $46.60. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. Celestica has a 52-week low of $16.28 and a 52-week high of $63.49. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 19.41 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. Celestica had a net margin of 3.86% and a return on equity of 18.25%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. Equities research analysts anticipate that Celestica will post 2.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLS has been the subject of a number of research reports. CIBC lifted their price target on Celestica from $49.00 to $58.00 and gave the stock a neutral rating in a research report on Monday, May 27th. Canaccord Genuity Group upped 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. Fox Advisors began coverage on shares of Celestica in a research report on Wednesday, May 15th. They set an overweight rating and a $60.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Celestica from $48.00 to $51.00 and gave the company a hold rating in a report on Monday, May 13th. Finally, BMO Capital Markets raised their target price on shares of Celestica from $53.00 to $63.00 and gave the stock an outperform rating in a report on Monday, June 17th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Celestica has a consensus rating of Moderate Buy and a consensus price target of $48.33.

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.