Plexus (PLXS) Issues Q2 Earnings Guidance

Plexus (NASDAQ:PLXS) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.68-0.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.82. The company issued revenue guidance of $670-$710 million, compared to the consensus revenue estimate of $693.60 million.

Plexus (NASDAQ:PLXS) traded down $2.10 on Wednesday, reaching $63.77. 205,500 shares of the company’s stock traded hands, compared to its average volume of 130,640. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2,216.19, a price-to-earnings ratio of 19.68 and a beta of 0.88. Plexus has a 12 month low of $49.06 and a 12 month high of $66.78.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The company had revenue of $670.00 million for the quarter, compared to analyst estimates of $676.23 million. Plexus had a net margin of 4.43% and a return on equity of 11.48%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. research analysts forecast that Plexus will post 3.41 earnings per share for the current fiscal year.

PLXS has been the topic of several analyst reports. BidaskClub lowered shares of Plexus from a hold rating to a sell rating in a report on Saturday, December 16th. Zacks Investment Research lowered shares of Plexus from a hold rating to a sell rating in a report on Monday, October 30th. Citigroup increased their target price on shares of Plexus from $59.00 to $65.00 and gave the stock a neutral rating in a report on Friday, October 27th. ValuEngine upgraded shares of Plexus from a hold rating to a buy rating in a report on Friday, September 22nd. Finally, Longbow Research upgraded shares of Plexus from a neutral rating to a buy rating in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $57.86.

In related news, Chairman Dean A. Foate sold 1,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $60.38, for a total transaction of $60,380.00. Following the sale, the chairman now directly owns 288,920 shares in the company, valued at $17,444,989.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Yong Jin Lim sold 10,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $63.07, for a total transaction of $630,700.00. Following the sale, the insider now owns 58,890 shares in the company, valued at $3,714,192.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,696 shares of company stock worth $12,706,971. 3.70% of the stock is currently owned by company insiders.

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About Plexus

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.

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