Celestica (NYSE:CLS) Updates FY 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.850-3.850 for the period, compared to the consensus earnings per share 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.

Celestica Stock Up 17.5 %

Shares of CLS traded up $10.03 during mid-day trading on Thursday, reaching $67.50. The company’s stock had a trading volume of 6,438,095 shares, compared to its average volume of 2,259,531. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.86. Celestica has a 12-month low of $20.87 and a 12-month high of $68.44. The company’s 50 day moving average is $51.89 and its 200 day moving average is $52.02. The stock has a market cap of $8.02 billion, a PE ratio of 24.89 and a beta of 2.28.

Celestica (NYSE:CLS) (TSE:CLS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities analysts anticipate that Celestica will post 3.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. CIBC lifted their price target on Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their price target on Celestica from $58.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com downgraded Celestica from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price target on Celestica from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Canaccord Genuity Group boosted their price objective on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

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.