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 guidance of $1.22-1.37 for the period, compared to the consensus earnings per share 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 Stock Performance

Shares of NASDAQ PLXS traded up $3.06 during trading on Thursday, reaching $98.73. The stock had a trading volume of 75,978 shares, compared to its average volume of 116,715. Plexus has a one year low of $83.84 and a one year high of $114.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.52. The stock has a market cap of $2.72 billion, a PE ratio of 21.83 and a beta of 1.02. The firm’s 50 day moving average price is $94.34 and its two-hundred day moving average price is $98.37.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Plexus had a return on equity of 12.16% and a net margin of 3.08%. The business had revenue of $966.90 million during the quarter, compared to the consensus estimate of $950.75 million. During the same period in the previous year, the business earned $1.45 EPS. The business’s quarterly revenue was down 9.7% on a year-over-year basis. On average, research analysts forecast that Plexus will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PLXS shares. Sidoti downgraded 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. TheStreet downgraded Plexus from a b rating to a c+ rating in a research note on Tuesday, February 13th. Benchmark restated a buy rating and set a $110.00 price objective on shares of Plexus in a research note on Wednesday, January 17th. Finally, Needham & Company LLC lowered their price objective on Plexus from $110.00 to $107.00 and set a buy rating for the company in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Plexus presently has an average rating of Moderate Buy and a consensus target price of $109.67.

Insider Activity at Plexus

In related news, CFO Patrick John Jermain sold 2,532 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $92.51, for a total value of $234,235.32. Following the completion of the transaction, the chief financial officer now owns 54,651 shares in the company, valued at approximately $5,055,764.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Patrick John Jermain sold 2,532 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $92.51, for a total value of $234,235.32. Following the completion of the sale, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at approximately $5,055,764.01. The sale was disclosed in a document filed with the SEC, 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 completion of the sale, the chief accounting officer now directly owns 40,875 shares of the company’s stock, valued at $3,972,232.50. The disclosure for this sale can be found here. Insiders sold 32,453 shares of company stock valued at $3,112,875 over the last 90 days. 2.39% of the stock is currently owned by corporate insiders.

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.