Celestica (NYSE:CLS) Releases Q2 2024 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.750-0.850 for the period, compared to the consensus estimate of 0.710. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.1 billion. Celestica also updated its FY 2024 guidance to 3.300-3.300 EPS.

Celestica Stock Up 0.5 %

Celestica stock traded up $0.21 during trading on Friday, reaching $43.46. 3,271,523 shares of the company’s stock were exchanged, compared to its average volume of 2,323,659. The company’s 50-day moving average is $44.57 and its two-hundred day moving average is $34.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 16.21 and a beta of 2.22.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Celestica had a net margin of 3.86% and a return on equity of 18.21%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. On average, analysts predict that Celestica will post 2.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CLS shares. Royal Bank of Canada upped their price target on shares of Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research report on Monday, April 22nd. TD Securities upped their price objective on shares of Celestica from $33.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upped their target price on shares of Celestica from $48.00 to $53.00 and gave the company a buy rating in a research note on Friday. BMO Capital Markets upped their target price on shares of Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research note on Monday, April 22nd. Finally, CIBC restated a neutral rating and issued a $49.00 target price (up previously from $41.00) on shares of Celestica in a research note on Friday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $41.50.

About Celestica

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.