Equities Analysts Offer Predictions for Plexus Corp.’s Q3 2024 Earnings (NASDAQ:PLXS)

Plexus Corp. (NASDAQ:PLXS) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for Plexus in a note issued to investors on Wednesday, March 27th. Zacks Research analyst H. Sadavartia now forecasts that the technology company will post earnings per share of $1.06 for the quarter, down from their prior estimate of $1.08. The consensus estimate for Plexus’ current full-year earnings is $4.27 per share. Zacks Research also issued estimates for Plexus’ Q4 2024 earnings at $1.35 EPS, FY2024 earnings at $4.31 EPS, Q1 2025 earnings at $1.46 EPS, Q2 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.75 EPS, FY2025 earnings at $5.87 EPS and FY2026 earnings at $6.66 EPS.

A number of other research firms have also recently issued reports on PLXS. Sidoti cut Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a research report on Tuesday, January 9th. TheStreet lowered Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Benchmark reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Plexus in a research note on Wednesday, January 17th. Finally, Needham & Company LLC cut their target price on shares of Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.67.

Plexus Stock Performance

PLXS opened at $93.36 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.52. The firm has a market cap of $2.58 billion, a P/E ratio of 20.79 and a beta of 1.02. The business’s fifty day moving average is $94.66 and its 200-day moving average is $97.83. Plexus has a 52-week low of $83.84 and a 52-week high of $114.06.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Thursday, January 25th. The technology company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.01). Plexus had a net margin of 3.08% and a return on equity of 12.16%. The business had revenue of $982.61 million during the quarter, compared to the consensus estimate of $982.57 million. During the same quarter last year, the company posted $1.49 EPS. The firm’s revenue was down 10.2% on a year-over-year basis.

Institutional Trading of Plexus

A number of hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd increased its stake in Plexus by 49.9% in the 4th quarter. Quadrature Capital Ltd now owns 21,208 shares of the technology company’s stock worth $2,287,000 after purchasing an additional 7,057 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Plexus by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,491 shares of the technology company’s stock worth $2,324,000 after buying an additional 984 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Plexus by 26.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,620 shares of the technology company’s stock valued at $391,000 after buying an additional 750 shares during the period. Barclays PLC grew its holdings in Plexus by 186.8% in the 4th quarter. Barclays PLC now owns 45,366 shares of the technology company’s stock worth $4,905,000 after acquiring an additional 29,546 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Plexus by 12.9% in the fourth quarter. Nuveen Asset Management LLC now owns 259,840 shares of the technology company’s stock valued at $28,096,000 after acquiring an additional 29,610 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insider Transactions at Plexus

In other Plexus news, insider Michael J. Running sold 542 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total value of $51,815.20. Following the transaction, the insider now owns 1,569 shares in the company, valued at $149,996.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $105.60, for a total transaction of $211,200.00. Following the completion of the transaction, the chief executive officer now directly owns 106,900 shares of the company’s stock, valued at $11,288,640. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Running sold 542 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total transaction of $51,815.20. Following the sale, the insider now directly owns 1,569 shares in the company, valued at approximately $149,996.40. The disclosure for this sale can be found here. Insiders have sold 34,453 shares of company stock valued at $3,324,075 in the last 90 days. 2.39% of the stock is currently owned by corporate insiders.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.