Wall Street brokerages expect that Plexus Corp. (NASDAQ:PLXS) will report $690.73 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Plexus’ earnings, with estimates ranging from $690.00 million to $691.30 million. Plexus reported sales of $604.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Plexus will report full year sales of $690.73 million for the current fiscal year, with estimates ranging from $2.78 billion to $2.82 billion. For the next fiscal year, analysts expect that the business will post sales of $3.01 billion per share, with estimates ranging from $2.98 billion to $3.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Plexus.
Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.05). Plexus had a negative net margin of 0.57% and a positive return on equity of 11.24%. The company had revenue of $677.00 million during the quarter, compared to analyst estimates of $685.07 million. During the same period last year, the firm earned $0.82 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year.
Plexus (NASDAQ:PLXS) opened at $60.32 on Thursday. Plexus has a 12-month low of $49.06 and a 12-month high of $66.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.08. The stock has a market capitalization of $2,062.80, a PE ratio of 19.32 and a beta of 0.87.
Plexus declared that its board has initiated a share buyback plan on Tuesday, February 20th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, VP Ronnie Darroch sold 1,679 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $60.35, for a total transaction of $101,327.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 6,500 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $60.90, for a total value of $395,850.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,304 shares of company stock worth $1,650,739. Company insiders own 3.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PLXS. Franklin Resources Inc. grew its holdings in shares of Plexus by 67.3% during the fourth quarter. Franklin Resources Inc. now owns 1,192,000 shares of the technology company’s stock worth $72,378,000 after purchasing an additional 479,300 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Plexus by 99.7% during the fourth quarter. Thrivent Financial For Lutherans now owns 287,611 shares of the technology company’s stock worth $17,464,000 after purchasing an additional 143,561 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Plexus by 2.6% during the fourth quarter. BlackRock Inc. now owns 4,313,584 shares of the technology company’s stock worth $261,921,000 after purchasing an additional 107,433 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Plexus by 10.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 581,975 shares of the technology company’s stock worth $35,338,000 after purchasing an additional 56,425 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Plexus by 60.6% during the fourth quarter. Deutsche Bank AG now owns 138,411 shares of the technology company’s stock worth $8,401,000 after purchasing an additional 52,209 shares during the last quarter. Institutional investors own 92.66% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://www.tickerreport.com/banking-finance/3230256/690-73-million-in-sales-expected-for-plexus-corp-plxs-this-quarter.html.
Plexus Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Plexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus and related companies with MarketBeat.com's FREE daily email newsletter.