Celestica (NYSE:CLS) Updates Q4 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.990-1.090 for the period, compared to the consensus earnings per share estimate of 0.950. The company issued revenue guidance of $2.4 billion-$2.6 billion, compared to the consensus revenue estimate of $2.5 billion. Celestica also updated its FY 2024 guidance to 3.850-3.850 EPS.

Celestica Trading Up 17.5 %

Shares of NYSE CLS traded up $10.03 during mid-day trading on Thursday, hitting $67.50. 6,438,095 shares of the company traded hands, compared to its average volume of 2,259,531. The business has a 50 day moving average of $51.89 and a two-hundred day moving average of $52.02. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 24.89 and a beta of 2.28. Celestica has a 1 year low of $20.87 and a 1 year high of $68.44. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, sell-side analysts anticipate that Celestica will post 3.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CLS shares. CIBC increased their target price on Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Canaccord Genuity Group upped their target price on Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus raised their price target on shares of Celestica from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen boosted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Finally, StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

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.