Benchmark Electronics, Inc. (NYSE:BHE) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.34-0.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.42. The company issued revenue guidance of $590-610 million, compared to the consensus revenue estimate of $620.48 million.
A number of brokerages have recently issued reports on BHE. Needham & Company LLC downgraded shares of Benchmark Electronics from a buy rating to a hold rating in a research report on Thursday, October 19th. Royal Bank Of Canada upped their target price on shares of Benchmark Electronics from $33.00 to $37.00 and gave the stock a sector perform rating in a report on Thursday, July 20th. Citigroup Inc. reaffirmed a neutral rating and issued a $36.00 target price (up previously from $32.00) on shares of Benchmark Electronics in a report on Friday, July 21st. Finally, BidaskClub downgraded shares of Benchmark Electronics from a hold rating to a sell rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has an average rating of Hold and an average target price of $33.25.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) traded up 1.15% during mid-day trading on Friday, hitting $30.80. 295,658 shares of the stock traded hands. The firm has a 50 day moving average of $33.58 and a 200 day moving average of $32.77. Benchmark Electronics, Inc. has a 12 month low of $24.65 and a 12 month high of $35.80. The company has a market cap of $1.54 billion, a P/E ratio of 22.65 and a beta of 0.55.
Benchmark Electronics (NYSE:BHE) last posted its earnings results on Wednesday, October 18th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The company had revenue of $604.00 million for the quarter, compared to analysts’ expectations of $584.50 million. Benchmark Electronics had a return on equity of 5.62% and a net margin of 2.63%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. Equities analysts anticipate that Benchmark Electronics, Inc. will post $1.48 EPS for the current fiscal year.
In related news, VP Scott R. Peterson sold 1,000 shares of Benchmark Electronics stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $32.06, for a total transaction of $32,060.00. Following the sale, the vice president now directly owns 18,893 shares in the company, valued at $605,709.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Douglas G. Duncan sold 5,922 shares of Benchmark Electronics stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $31.91, for a total transaction of $188,971.02. Following the sale, the director now owns 30,524 shares in the company, valued at $974,020.84. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
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About Benchmark Electronics
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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