Celestica (NYSE:CLS) Issues FY24 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.30 for the period, compared to the consensus EPS estimate of $2.93. The company issued revenue guidance of $9.1 billion, compared to the consensus revenue estimate of $8.78 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Celestica Stock Performance

Shares of Celestica stock traded up $0.34 on Wednesday, hitting $44.10. The stock had a trading volume of 2,605,368 shares, compared to its average volume of 2,249,805. Celestica has a twelve month low of $10.50 and a twelve month high of $51.12. The business’s 50 day moving average is $44.32 and its two-hundred day moving average is $34.11. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 21.77 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. Analysts forecast that Celestica will post 2.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CLS shares. StockNews.com lowered Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. BMO Capital Markets upped their price target on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research report on Monday. Canaccord Genuity Group upped their price target on Celestica from $32.50 to $38.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Royal Bank of Canada upped their price target on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research report on Monday. Finally, CIBC upped their price target on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $36.38.

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.