Celestica (NYSE:CLS) Issues 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.

Celestica Stock Performance

CLS traded up $0.34 on Wednesday, hitting $44.10. The company had a trading volume of 2,605,368 shares, compared to its average volume of 2,249,805. The company’s fifty day moving average price is $44.32 and its 200 day moving average price is $34.11. Celestica has a 1-year low of $10.50 and a 1-year high of $51.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.40 and a quick ratio of 0.75. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 21.77 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last posted its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. Equities analysts predict that Celestica will post 2.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CLS shares. Royal Bank of Canada upped their price target on Celestica from $38.00 to $47.00 and gave the company an outperform rating in a research note on Monday. Canaccord Genuity Group upped their price target on Celestica from $32.50 to $38.00 and gave the company a buy rating in a research note on Wednesday, January 31st. CIBC upped their price target on Celestica from $33.00 to $41.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. BMO Capital Markets increased their target price on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research note on Monday. Finally, TD Securities increased their target price on Celestica from $33.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $36.38.

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.