Celestica (NYSE:CLS) Updates Q4 Earnings Guidance

Celestica (NYSE:CLS) (TSE:CLS) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.99-$1.09 for the period, compared to the consensus earnings per share estimate of $0.95. The company issued revenue guidance of $2.425-$2.575 billion, compared to the consensus revenue estimate of $2.45 billion. Celestica also updated its FY25 guidance to $4.42 EPS.

Celestica Stock Up 2.6 %

Shares of CLS traded up $1.47 during mid-day trading on Wednesday, hitting $57.47. 3,431,298 shares of the company’s stock were exchanged, compared to its average volume of 2,237,761. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 20.89 and a beta of 2.28. Celestica has a fifty-two week low of $20.87 and a fifty-two week high of $64.56. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The stock’s 50-day moving average is $51.78 and its 200-day moving average is $51.99.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.10. Celestica had a return on equity of 19.96% and a net margin of 4.16%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s revenue was up 23.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Celestica will post 3.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CLS. Stifel Nicolaus upgraded Celestica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, September 9th. Royal Bank of Canada raised their price target on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Canaccord Genuity Group upped their price target on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 26th. CIBC raised their price objective on shares of Celestica from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, TD Securities increased their price target on shares of Celestica from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.88.

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.