Plexus (NASDAQ:PLXS) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Plexus (NASDAQ:PLXS) issued its quarterly earnings data on Wednesday. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.07, Briefing.com reports. Plexus had a net margin of 2.54% and a return on equity of 10.86%. The company had revenue of $966.90 million for the quarter, compared to the consensus estimate of $950.75 million. During the same period last year, the firm posted $1.45 EPS. Plexus’s revenue for the quarter was down 9.7% on a year-over-year basis. Plexus updated its Q3 guidance to $1.22-1.37 EPS and its Q3 2024 guidance to 1.220-1.370 EPS.

Plexus Trading Up 0.7 %

Shares of NASDAQ:PLXS traded up $0.65 during trading on Friday, reaching $99.74. The stock had a trading volume of 5,287 shares, compared to its average volume of 116,517. The business has a fifty day moving average price of $94.38 and a 200-day moving average price of $98.38. The company has a quick ratio of 0.62, a current ratio of 1.52 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.75 billion, a P/E ratio of 27.37 and a beta of 1.02. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06.

Insider Activity

In related news, insider Michael J. Running sold 542 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,569 shares of the company’s stock, valued at $149,996.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Plexus news, CFO Patrick John Jermain sold 4,748 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $95.47, for a total transaction of $453,291.56. Following the completion of the sale, the chief financial officer now directly owns 49,903 shares in the company, valued at $4,764,239.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael J. Running sold 542 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total transaction of $51,815.20. Following the sale, the insider now owns 1,569 shares of the company’s stock, valued at $149,996.40. The disclosure for this sale can be found here. Insiders sold a total of 32,453 shares of company stock valued at $3,112,875 over the last 90 days. Insiders own 2.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLXS. Benchmark reaffirmed a “buy” rating and issued a $110.00 target price on shares of Plexus in a report on Wednesday, January 17th. TheStreet downgraded shares of Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Needham & Company LLC boosted their price objective on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday. Finally, Sidoti downgraded shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Plexus currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

About Plexus

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.