Plexus (NASDAQ:PLXS) Releases Q3 Earnings Guidance

Plexus (NASDAQ:PLXS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.22-1.37 for the period, compared to the consensus estimate of $1.09. The company issued revenue guidance of $960 million – $1 billion, compared to the consensus revenue estimate of $1.02 billion. Plexus also updated its Q3 2024 guidance to 1.220-1.370 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PLXS. Stifel Nicolaus upped their price target on shares of Plexus from $90.00 to $95.00 and gave the company a hold rating in a report on Friday. Benchmark reissued a buy rating and issued a $110.00 price objective on shares of Plexus in a research report on Wednesday, January 17th. Needham & Company LLC boosted their price objective on shares of Plexus from $107.00 to $114.00 and gave the company a buy rating in a research report on Friday. Sidoti cut shares of Plexus from a buy rating to a neutral rating and set a $112.00 price objective for the company. in a research report on Tuesday, January 9th. Finally, TheStreet cut shares of Plexus from a b rating to a c+ rating in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $107.75.

Plexus Stock Up 2.0 %

Shares of PLXS traded up $1.98 during mid-day trading on Friday, hitting $101.07. The company’s stock had a trading volume of 54,680 shares, compared to its average volume of 117,009. The company’s 50-day moving average is $94.38 and its 200-day moving average is $98.38. Plexus has a 52-week low of $83.84 and a 52-week high of $114.06. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 27.56 and a beta of 1.02. The company has a current ratio of 1.52, a quick ratio of 0.62 and a debt-to-equity ratio of 0.15.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.86%. The company had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $950.75 million. During the same quarter in the prior year, the company posted $1.45 earnings per share. Plexus’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Plexus will post 4.36 EPS for the current fiscal year.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the sale, the chief executive officer now owns 121,310 shares of the company’s stock, valued at $11,403,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Plexus news, CFO Patrick John Jermain sold 4,399 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $99.86, for a total transaction of $439,284.14. Following the transaction, the chief financial officer now owns 45,504 shares in the company, valued at approximately $4,544,029.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the transaction, the chief executive officer now owns 121,310 shares in the company, valued at approximately $11,403,140. The disclosure for this sale can be found here. Insiders sold 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.

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.