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.

Plexus Trading Up 1.2 %

NASDAQ:PLXS traded up $1.19 during trading hours on Friday, reaching $100.28. 127,248 shares of the company were exchanged, compared to its average volume of 99,597. Plexus has a 52-week low of $83.84 and a 52-week high of $114.06. The stock has a 50 day simple moving average of $94.48 and a 200 day simple moving average of $98.41. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 27.70 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.62.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The company had revenue of $966.90 million during the quarter, compared to analyst estimates of $950.75 million. During the same quarter in the prior year, the business earned $1.45 earnings per share. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, analysts predict that Plexus will post 4.36 EPS for the current year.

Wall Street Analysts Forecast Growth

PLXS has been the subject of several recent research reports. TheStreet lowered shares of Plexus from a b rating to a c+ rating in a research report on Tuesday, February 13th. Benchmark reaffirmed a buy rating and set a $110.00 price target on shares of Plexus in a report on Wednesday, January 17th. Needham & Company LLC raised their price target on shares of Plexus from $107.00 to $114.00 and gave the company a buy rating in a report on Friday. Sidoti lowered shares of Plexus from a buy rating to a neutral rating and set a $112.00 price target for the company. in a report on Tuesday, January 9th. Finally, Stifel Nicolaus raised 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. Three 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 currently has a consensus rating of Hold and a consensus target price of $107.75.

Insiders Place Their Bets

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $97.18, for a total value of $358,982.92. Following the transaction, the chief accounting officer now directly owns 40,875 shares in the company, valued at approximately $3,972,232.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of Plexus stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $97.18, for a total value of $358,982.92. Following the sale, the chief accounting officer now directly owns 40,875 shares in the company, valued at approximately $3,972,232.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of Plexus stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $94.30, for a total transaction of $188,600.00. Following the completion of the sale, the chief executive officer now owns 121,859 shares in the company, valued at $11,491,303.70. 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 in the last ninety days. Corporate 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.