CLS Stock Recent News

Celestica (CLS) possesses solid growth attributes, which could help it handily outperform the market.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

TORONTO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Celestica Inc . (TSX: CLS) (NYSE: CLS), a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, today announced the availability of its SC6100, a next-generation, 2U rackmount all-flash storage controller designed to deliver increased performance and high availability for the most demanding enterprise application workloads.

I downgraded Celestica stock to "Hold" 6 months ago due to valuation concerns, but the recent Q2 FY2024 results have led to an upgrade back to Buy. Read on. Q2 performance showed strong growth in the CCS segment, offsetting weakness in the ATS segment, leading to increased revenue and margins. Overall, Celestica's business growth isn't slowing. According to my DCF model, the stock is undervalued by approximately 68.7% - hence the upgrade to Buy.

Recently, Zacks.com users have been paying close attention to Celestica (CLS). This makes it worthwhile to examine what the stock has in store.

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Celestica (NYSE: CLS) is an American technology company.

Celestica Inc. (NYSE:CLS ) Q2 2024 Earnings Conference Call July 25, 2024 8:00 AM ET Company Participants Craig Oberg - Vice President, IR & Corporate Development Rob Mionis - President & Chief Executive Officer Mandeep Chawla - Chief Financial Officer Conference Call Participants Thanos Moschopoulos - BMO Capital Markets Matthew Sheerin - Stifel Nicolaus Steven Fox - Fox Advisors Daniel Chan - TD Cowen Paul Treiber - RBC Capital Markets Jesse Pytlak - Cormark Securities Todd Coupland - CIBC Operator Good morning, ladies and gentlemen, and welcome to the Celestica Q2 2024 Earnings Call. At this time, all lines are in listen-only mode.

Celestica (CLS) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.82 per share. This compares to earnings of $0.55 per share a year ago.

Q2 2024 revenue and non-IFRS adjusted EPS* exceed the high end of guidance ranges; 2024 full-year outlook raised Q2 2024 revenue and non-IFRS adjusted EPS* exceed the high end of guidance ranges; 2024 full-year outlook raised