Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.750-0.850 for the period, compared to the consensus earnings per share 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.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. TD Securities upped their price objective on Celestica from $33.00 to $40.00 and gave the stock a buy 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. CIBC restated a neutral rating and set a $49.00 price objective (up from $41.00) on shares of Celestica in a research note on Friday. Stifel Nicolaus upped their price objective on Celestica from $36.00 to $48.00 and gave the stock a hold rating in a research note on Friday. Finally, BMO Capital Markets increased their price target on Celestica from $37.00 to $48.00 and gave the company an outperform rating in a research note on Monday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Celestica presently has an average rating of Moderate Buy and an average price target of $41.50.
Read Our Latest Stock Report on CLS
Celestica Price Performance
Celestica (NYSE:CLS – Get Free Report) (TSE:CLS) last announced its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 18.21% and a net margin of 3.86%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. On average, equities analysts forecast that Celestica will post 2.59 earnings per share 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.
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