Plexus (NASDAQ:PLXS) Announces Earnings Results, Beats Estimates By $0.07 EPS

Plexus (NASDAQ:PLXS) announced its quarterly earnings data on Wednesday. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07, Briefing.com reports. Plexus had a return on equity of 12.16% and a net margin of 3.08%. The firm had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. During the same quarter in the prior year, the company posted $1.45 earnings per share. Plexus’s quarterly revenue was down 9.7% on a year-over-year basis. Plexus updated its Q3 guidance to $1.22-1.37 EPS and its Q3 2024 guidance to 1.220-1.370 EPS.

Plexus Price Performance

Plexus stock traded up $3.63 during trading hours on Thursday, hitting $99.30. The stock had a trading volume of 32,115 shares, compared to its average volume of 116,109. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.52 and a quick ratio of 0.62. Plexus has a 1-year low of $83.84 and a 1-year high of $114.06. The stock’s fifty day moving average is $94.34 and its two-hundred day moving average is $98.37. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.11 and a beta of 1.02.

Insider Activity

In other news, insider Michael J. Running sold 542 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total value of $51,815.20. Following the sale, the insider now directly owns 1,569 shares in the company, valued at $149,996.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Michael J. Running sold 542 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total value of $51,815.20. Following the sale, the insider now directly owns 1,569 shares in the company, valued at $149,996.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $97.18, for a total value of $358,982.92. Following 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. Insiders have sold 32,453 shares of company stock worth $3,112,875 over the last three months. 2.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLXS. TheStreet lowered Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Sidoti lowered Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a report on Tuesday, January 9th. Needham & Company LLC dropped their price objective on Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of Plexus in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.67.

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.