Celestica (NYSE:CLS) Issues FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.300-3.300 for the period, compared to the consensus EPS estimate of 2.930. The company issued revenue guidance of $9.1 billion-$9.1 billion, compared to the consensus revenue estimate of $8.8 billion. Celestica also updated its FY24 guidance to $3.30 EPS.

Analyst Ratings Changes

A number of research firms recently commented on CLS. CIBC reiterated a neutral rating and set a $49.00 price objective (up previously from $41.00) on shares of Celestica in a research report on Friday. TD Securities upped their price objective on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Stifel Nicolaus upped their price objective on Celestica from $36.00 to $48.00 and gave the company a hold rating in a research report on Friday. Canaccord Genuity Group upped their price objective on Celestica from $48.00 to $53.00 and gave the company a buy rating in a research report on Friday. Finally, StockNews.com cut Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $41.50.

Celestica Price Performance

Shares of NYSE:CLS traded up $0.21 during trading on Friday, hitting $43.46. 2,682,938 shares of the company’s stock were exchanged, compared to its average volume of 2,279,697. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12. The business’s 50-day simple moving average is $44.49 and its 200 day simple moving average is $34.25. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 16.03 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. As a group, equities analysts predict that Celestica will post 2.59 EPS for the current year.

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.