Celestica (NYSE:CLS) Issues Q3 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.860-0.960 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on Celestica from $48.00 to $53.00 and gave the company a buy rating in a report on Friday, April 26th. Fox Advisors assumed coverage on Celestica in a report on Wednesday, May 15th. They set an overweight rating and a $60.00 price target for the company. Canaccord Genuity Group lifted their price target on Celestica from $53.00 to $70.00 and gave the company a buy rating in a report on Friday. StockNews.com upgraded Celestica from a hold rating to a buy rating in a report on Thursday. Finally, BMO Capital Markets lifted their price target on Celestica from $53.00 to $63.00 and gave the company an outperform rating in a report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Celestica currently has an average rating of Moderate Buy and a consensus target price of $54.44.

Celestica Stock Performance

NYSE:CLS traded up $1.60 during midday trading on Friday, reaching $52.67. The stock had a trading volume of 3,249,009 shares, compared to its average volume of 2,098,166. Celestica has a 1-year low of $17.73 and a 1-year high of $63.49. The firm’s fifty day simple moving average is $56.61 and its 200-day simple moving average is $46.80. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.78. The stock has a market capitalization of $6.26 billion, a P/E ratio of 19.66 and a beta of 2.31.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 20.14%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business posted $0.55 EPS. Celestica’s revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts forecast that Celestica will post 2.88 EPS for the current fiscal 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.