Celestica (NYSE:CLS) Updates Q2 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.75-0.85 for the period, compared to the consensus earnings per share estimate of $0.71. The company issued revenue guidance of $2.175-2.325 billion, compared to the consensus revenue estimate of $2.14 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Analysts Set New Price Targets

CLS has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a report on Monday. Royal Bank of Canada lifted their price target on shares of Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research note on Monday. TD Securities raised their price objective on Celestica from $33.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Canaccord Genuity Group boosted their target price on Celestica from $32.50 to $38.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, StockNews.com cut Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Two 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, Celestica has an average rating of Moderate Buy and a consensus price target of $36.38.

Celestica Stock Up 0.8 %

Shares of NYSE CLS traded up $0.34 during trading on Wednesday, reaching $44.10. 2,605,368 shares of the stock were exchanged, compared to its average volume of 2,249,805. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.77 and a beta of 2.22. The business’s 50-day moving average price is $44.32 and its 200 day moving average price is $34.11. The company has a quick ratio of 0.75, a current ratio of 1.40 and a debt-to-equity ratio of 0.41. Celestica has a twelve month low of $10.50 and a twelve month high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last issued its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.07% and a return on equity of 17.09%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. As a group, equities analysts forecast that Celestica will post 2.59 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.