Plexus (NASDAQ:PLXS) Releases Q3 Earnings Guidance

Plexus (NASDAQ:PLXS) updated its third quarter earnings guidance on Wednesday. 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.

Analyst Ratings Changes

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

Plexus Stock Performance

Shares of PLXS traded up $1.19 during trading hours on Friday, hitting $100.28. The stock had a trading volume of 127,248 shares, compared to its average volume of 99,597. 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 has a 12 month low of $83.84 and a 12 month high of $114.06. The firm has a market capitalization of $2.77 billion, a PE ratio of 27.70 and a beta of 1.02. The stock has a fifty day moving average price of $94.48 and a 200 day moving average price of $98.41.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. Plexus had a return on equity of 10.77% and a net margin of 2.54%. 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 previous year, the company posted $1.45 earnings per share. Plexus’s revenue was down 9.7% compared to the same quarter last year. Analysts anticipate that Plexus will post 4.36 EPS for the current year.

Insider Activity at Plexus

In related news, CFO Patrick John Jermain sold 4,399 shares of Plexus stock in a transaction on Monday, February 12th. The stock was sold at an average price of $99.86, for a total transaction of $439,284.14. Following the transaction, the chief financial officer now directly owns 45,504 shares in the company, valued at $4,544,029.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Patrick John Jermain sold 4,399 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $99.86, for a total value of $439,284.14. Following the transaction, the chief financial officer now directly owns 45,504 shares in the company, valued at $4,544,029.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the business’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 completion of the transaction, the chief accounting officer now owns 40,875 shares in the company, valued at $3,972,232.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,453 shares of company stock worth $3,112,875. Corporate insiders own 2.39% of the company’s stock.

About Plexus

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.