Celestica (NYSE:CLS) Releases FY24 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.30 for the period, compared to the consensus EPS estimate of $2.93. The company issued revenue guidance of $9.1 billion, compared to the consensus revenue estimate of $8.78 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CLS. TD Securities increased their price target on shares of Celestica from $33.00 to $40.00 and gave the company a buy rating in a report on Wednesday, January 31st. BMO Capital Markets increased their target price on shares of Celestica from $37.00 to $48.00 and gave the company an outperform rating in a report on Monday. StockNews.com downgraded shares of Celestica from a buy rating to a hold rating in a research report on Wednesday, February 28th. Royal Bank of Canada upped their price target on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a report on Monday. Finally, CIBC reaffirmed a neutral rating and set a $49.00 price objective (up from $41.00) on shares of Celestica in a report on Friday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $41.50.

Celestica Price Performance

Shares of CLS traded up $0.21 during trading hours on Friday, reaching $43.46. 3,185,103 shares of the company traded hands, compared to its average volume of 2,288,236. The stock has a market capitalization of $5.18 billion, a PE ratio of 16.22 and a beta of 2.22. The stock has a fifty day simple moving average of $44.49 and a 200 day simple moving average of $34.25. Celestica has a fifty-two week low of $10.50 and a fifty-two week high of $51.12. 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 (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Celestica had a net margin of 3.86% and a return on equity of 18.21%. As a group, research analysts predict that Celestica will post 2.59 EPS for the current fiscal year.

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.