Celestica (NYSE:CLS) Releases Q2 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.750-0.850 for the period, compared to the consensus estimate of 0.710. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.1 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus increased their target price on Celestica from $36.00 to $48.00 and gave the stock a hold rating in a report on Friday. CIBC restated a neutral rating and set a $49.00 price objective (up from $41.00) on shares of Celestica in a research note on Friday. Canaccord Genuity Group raised their price objective on Celestica from $48.00 to $53.00 and gave the company a buy rating in a research note on Friday. BMO Capital Markets raised their price objective on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research note on Monday. Finally, TD Securities raised their price objective on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Celestica has an average rating of Moderate Buy and an average price target of $41.50.

Celestica Price Performance

CLS stock traded up $0.21 during mid-day trading on Friday, reaching $43.46. 2,682,938 shares of the company traded hands, 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. The company has a market capitalization of $5.18 billion, a P/E ratio of 16.03 and a beta of 2.22. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12. The company has a fifty day moving average price of $44.49 and a 200-day moving average price of $34.25.

Celestica (NYSE:CLS) (TSE:CLS) last posted 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. 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, analysts anticipate that Celestica will post 2.59 earnings per share 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.