Celestica (NYSE:CLS) Updates FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.850-3.850 for the period, compared to the consensus EPS estimate of 3.650. The company issued revenue guidance of $9.6 billion-$9.6 billion, compared to the consensus revenue estimate of $9.5 billion. Celestica also updated its FY 2025 guidance to 4.420-4.420 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CLS shares. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. TD Securities raised their target price on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets boosted their price target on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their price objective on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their target price on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

Celestica Stock Performance

Shares of CLS traded up $0.85 during midday trading on Friday, reaching $68.79. 2,396,405 shares of the stock were exchanged, compared to its average volume of 2,264,628. The company has a quick ratio of 0.86, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $52.13 and its 200 day simple moving average is $52.13. Celestica has a twelve month low of $20.87 and a twelve month high of $70.07. The company has a market cap of $8.17 billion, a P/E ratio of 25.34 and a beta of 2.28.

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