Wall Street Zen cut shares of Benchmark Electronics (NYSE:BHE – Free Report) from a strong-buy rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.
Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered Benchmark Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Zacks Research upgraded shares of Benchmark Electronics to a “hold” rating in a research report on Monday, October 5th. Finally, Needham & Company LLC started coverage on shares of Benchmark Electronics in a research report on Friday, October 23rd. They set a “buy” rating and a $85.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.50.
Check Out Our Latest Research Report on Benchmark Electronics
Benchmark Electronics Price Performance
Shares of BHE opened at $68.76 on Friday. The firm has a 50-day simple moving average of $75.48 and a two-hundred day simple moving average of $72.38. The stock has a market cap of $2.47 billion, a PE ratio of 31.22, a P/E/G ratio of 1.39 and a beta of 1.25. Benchmark Electronics has a 1-year low of $41.69 and a 1-year high of $100.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.99 and a quick ratio of 1.31.
Benchmark Electronics (NYSE:BHE – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.79 by $0.05. The business had revenue of $810.90 million during the quarter, compared to analyst estimates of $776.65 million. Benchmark Electronics had a return on equity of 7.75% and a net margin of 1.90%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. As a group, analysts forecast that Benchmark Electronics will post 2.40 EPS for the current year.
Benchmark Electronics Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Shareholders of record on Wednesday, September 30th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, September 30th. Benchmark Electronics’s payout ratio is currently 43.87%.
Institutional Trading of Benchmark Electronics
Several hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its stake in shares of Benchmark Electronics by 69.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 609 shares of the technology company’s stock worth $26,000 after acquiring an additional 250 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Benchmark Electronics in the 2nd quarter valued at approximately $64,000. Group One Trading LLC purchased a new stake in Benchmark Electronics in the 2nd quarter valued at approximately $73,000. Sterling Capital Management LLC boosted its holdings in Benchmark Electronics by 107.6% in the 3rd quarter. Sterling Capital Management LLC now owns 930 shares of the technology company’s stock valued at $77,000 after purchasing an additional 482 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Benchmark Electronics during the 2nd quarter worth approximately $112,000. Institutional investors and hedge funds own 92.29% of the company’s stock.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of integrated electronics manufacturing and engineering services. The company helps original equipment manufacturers design, develop, test, manufacture and support complex electronic products and systems.
Its services include product design and engineering, prototyping, printed circuit board assembly, systems integration, precision machining, testing, supply chain management, and aftermarket support. Benchmark serves customers in industries such as aerospace and defense, medical technology, industrial equipment, semiconductor capital equipment, and advanced computing.
Headquartered in Tempe, Arizona, Benchmark operates manufacturing and engineering facilities across North America, Europe and Asia.
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