Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.620-3.620 for the period, compared to the consensus EPS estimate of 3.330. The company issued revenue guidance of $9.5 billion-$9.5 billion, compared to the consensus revenue estimate of $9.1 billion. Celestica also updated its FY24 guidance to $3.62 EPS.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Canaccord Genuity Group increased their price target on shares of Celestica from $48.00 to $53.00 and gave the stock a buy rating in a research note on Friday, April 26th. Fox Advisors initiated coverage on shares of Celestica in a research note on Wednesday, May 15th. They issued an overweight rating and a $60.00 target price on the stock. BMO Capital Markets raised their target price on shares of Celestica from $53.00 to $63.00 and gave the company an outperform rating in a research note on Monday, June 17th. CIBC raised their target price on shares of Celestica from $49.00 to $58.00 and gave the company a neutral rating in a research note on Monday, May 27th. Finally, Royal Bank of Canada raised their target price on shares of Celestica from $53.00 to $63.00 and gave the company an outperform rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $48.33.
Celestica Trading Down 4.3 %
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 3.86% and a return on equity of 18.25%. Celestica’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. Research analysts anticipate that Celestica will post 2.88 earnings per share for the current year.
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.
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