Celestica (NYSE:CLS) Updates Q2 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.75-0.85 for the period, compared to the consensus EPS estimate of $0.71. The company issued revenue guidance of $2.175-2.325 billion, compared to the consensus revenue estimate of $2.14 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Analyst Ratings Changes

Several analysts have weighed in on CLS shares. CIBC reaffirmed a neutral rating and issued a $49.00 price target (up previously from $41.00) on shares of Celestica in a report on Friday. Canaccord Genuity Group boosted their price objective on Celestica from $48.00 to $53.00 and gave the stock a buy rating in a report on Friday. Stifel Nicolaus raised their target price on shares of Celestica from $36.00 to $48.00 and gave the company a hold rating in a research note on Friday. StockNews.com cut shares of Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Finally, BMO Capital Markets increased their price target on shares of Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a report on Monday. Three equities 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.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $41.50.

Celestica Price Performance

CLS traded up $0.21 during midday trading on Friday, hitting $43.46. The stock had a trading volume of 3,185,103 shares, compared to its average volume of 2,288,236. 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 quick ratio of 0.75 and a current ratio of 1.40. The business has a fifty day moving average of $44.49 and a 200 day moving average of $34.25. The company has a market cap of $5.18 billion, a P/E ratio of 16.22 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $2.14 billion during 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, equities analysts forecast that Celestica will post 2.59 earnings per share 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.