Benchmark Electronics (NYSE:BHE) Updates Q1 Earnings Guidance

Benchmark Electronics (NYSE:BHE) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.42-$0.48 for the period, compared to the consensus EPS estimate of $0.46. The company issued revenue guidance of $625-$665 million, compared to the consensus revenue estimate of $645.00 million.

Analyst Ratings Changes

BHE has been the subject of several recent analyst reports. Needham & Company LLC upped their price target on Benchmark Electronics from $30.00 to $31.00 and gave the stock a buy rating in a research note on Thursday, February 1st. StockNews.com cut Benchmark Electronics from a buy rating to a hold rating in a report on Friday, February 9th.

Benchmark Electronics Stock Performance

Shares of Benchmark Electronics stock traded up $0.11 on Tuesday, hitting $29.22. The stock had a trading volume of 179,259 shares, compared to its average volume of 285,414. The company has a current ratio of 2.29, a quick ratio of 1.33 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average price is $28.94 and its 200 day moving average price is $26.48. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 16.23 and a beta of 1.02. Benchmark Electronics has a 52-week low of $20.58 and a 52-week high of $31.75.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Benchmark Electronics had a return on equity of 6.95% and a net margin of 2.27%. The business had revenue of $691.35 million during the quarter.

Benchmark Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, March 27th. Benchmark Electronics’s payout ratio is 36.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Benchmark Electronics by 7.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,685 shares of the technology company’s stock worth $849,000 after purchasing an additional 2,021 shares in the last quarter. GSA Capital Partners LLP grew its holdings in Benchmark Electronics by 219.6% during the 4th quarter. GSA Capital Partners LLP now owns 40,908 shares of the technology company’s stock worth $1,131,000 after acquiring an additional 28,107 shares in the last quarter. Barclays PLC raised its stake in shares of Benchmark Electronics by 39.2% in the fourth quarter. Barclays PLC now owns 85,466 shares of the technology company’s stock worth $2,362,000 after purchasing an additional 24,068 shares during the last quarter. Vanguard Group Inc. lifted its stake in Benchmark Electronics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,685,488 shares of the technology company’s stock valued at $129,507,000 after buying an additional 58,266 shares in the last quarter. Finally, Occudo Quantitative Strategies LP boosted its position in shares of Benchmark Electronics by 10.3% during the 4th quarter. Occudo Quantitative Strategies LP now owns 19,290 shares of the technology company’s stock worth $533,000 after purchasing an additional 1,799 shares during the period. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

About Benchmark Electronics

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.