Celestica (NYSE:CLS) Releases Q2 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.75-0.85 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group upped their price objective on Celestica from $32.50 to $38.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. CIBC upped their price objective on Celestica from $33.00 to $41.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Royal Bank of Canada upped their price objective on Celestica from $38.00 to $47.00 and gave the stock an outperform rating in a research note on Monday. BMO Capital Markets upped their price objective on Celestica from $37.00 to $48.00 and gave the stock an outperform rating in a research note on Monday. Finally, StockNews.com cut Celestica from a buy rating to a hold rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $36.38.

Celestica Price Performance

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

Celestica (NYSE:CLS) (TSE:CLS) last released its earnings results on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Celestica had a return on equity of 17.09% and a net margin of 3.07%. On average, equities research analysts forecast that Celestica will post 2.59 EPS for the current fiscal year.

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.