Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.300-3.300 for the period, compared to the consensus EPS estimate of 2.930. The company issued revenue guidance of $9.1 billion-$9.1 billion, compared to the consensus revenue estimate of $8.8 billion. Celestica also updated its FY24 guidance to $3.30 EPS.
Analyst Ratings Changes
A number of research firms have issued reports on CLS. Canaccord Genuity Group increased their price objective on Celestica from $48.00 to $53.00 and gave the stock a buy rating in a report on Friday. CIBC restated a neutral rating and set a $49.00 price target (up from $41.00) on shares of Celestica in a report on Friday. TD Securities lifted 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. Stifel Nicolaus lifted their price objective on Celestica from $36.00 to $48.00 and gave the stock a hold rating in a report on Friday. Finally, Royal Bank of Canada raised their target price on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $41.50.
Get Our Latest Stock Analysis on CLS
Celestica Stock Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last posted its earnings results on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Celestica had a return on equity of 18.21% and a net margin of 3.86%. On average, research analysts forecast that Celestica will post 2.59 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.
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