Wall Street brokerages expect that Plexus Corp. (NASDAQ:PLXS) will post sales of $769.37 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Plexus’ earnings, with the highest sales estimate coming in at $771.30 million and the lowest estimate coming in at $767.44 million. Plexus posted sales of $677.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.6%. The business is scheduled to report its next quarterly earnings results on Wednesday, January 16th.
According to Zacks, analysts expect that Plexus will report full year sales of $3.22 billion for the current year, with estimates ranging from $3.19 billion to $3.26 billion. For the next financial year, analysts expect that the business will report sales of $3.50 billion, with estimates ranging from $3.41 billion to $3.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Plexus.
Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 24th. The technology company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The firm had revenue of $771.18 million for the quarter, compared to analysts’ expectations of $760.98 million. Plexus had a net margin of 0.45% and a return on equity of 11.98%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share.
Several analysts recently weighed in on PLXS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Plexus in a report on Friday, July 20th. BidaskClub downgraded Plexus from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Finally, ValuEngine downgraded Plexus from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $70.67.
NASDAQ:PLXS traded up $0.52 during mid-day trading on Friday, hitting $60.15. The stock had a trading volume of 6,015 shares, compared to its average volume of 202,691. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 18.63 and a beta of 0.60. Plexus has a twelve month low of $52.44 and a twelve month high of $66.78. The company has a quick ratio of 0.98, a current ratio of 2.06 and a debt-to-equity ratio of 0.20.
In other news, CAO Angelo Michael Ninivaggi, Jr. sold 6,250 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $61.79, for a total value of $386,187.50. Following the completion of the transaction, the chief accounting officer now directly owns 28,402 shares in the company, valued at approximately $1,754,959.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 9,000 shares of the stock in a transaction on Monday, October 29th. The shares were sold at an average price of $58.68, for a total value of $528,120.00. Following the completion of the transaction, the chief executive officer now owns 72,031 shares of the company’s stock, valued at $4,226,779.08. The disclosure for this sale can be found here. Insiders have sold 83,666 shares of company stock valued at $5,134,579 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PLXS. Millennium Management LLC bought a new position in shares of Plexus in the 1st quarter valued at $752,000. Xact Kapitalforvaltning AB increased its holdings in Plexus by 62.2% in the first quarter. Xact Kapitalforvaltning AB now owns 5,737 shares of the technology company’s stock valued at $343,000 after purchasing an additional 2,200 shares during the period. WINTON GROUP Ltd acquired a new stake in Plexus in the first quarter valued at $244,000. Principal Financial Group Inc. increased its holdings in Plexus by 2.5% in the first quarter. Principal Financial Group Inc. now owns 264,205 shares of the technology company’s stock valued at $15,781,000 after purchasing an additional 6,506 shares during the period. Finally, Bank of Montreal Can increased its holdings in Plexus by 413.3% in the second quarter. Bank of Montreal Can now owns 9,466 shares of the technology company’s stock valued at $563,000 after purchasing an additional 7,622 shares during the period. Institutional investors own 97.40% of the company’s stock.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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