Celestica (NYSE:CLS) Releases Q4 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.990-1.090 for the period, compared to the consensus 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 Stock Performance

Shares of Celestica stock traded up $1.46 during trading hours on Wednesday, reaching $57.46. 3,462,220 shares of the stock traded hands, compared to its average volume of 2,238,517. The company has a 50 day moving average price of $51.78 and a 200 day moving average price of $51.99. Celestica has a one year low of $20.87 and a one year high of $64.56. 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 firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 20.89 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts expect that Celestica will post 3.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CLS. Canaccord Genuity Group upped their price objective on Celestica from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. TD Securities raised their price objective on Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Monday, September 9th. StockNews.com cut shares of Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, CIBC lifted their price target on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

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.