Equities research analysts expect Plexus Corp. (NASDAQ:PLXS) to report sales of $690.77 million for the current quarter, Zacks reports. Three analysts have made estimates for Plexus’ earnings, with estimates ranging from $690.00 million to $691.41 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 scheduled to report its next quarterly earnings report after the market closes on Wednesday, April 25th.
On average, analysts expect that Plexus will report full year sales of $690.77 million for the current fiscal year, with estimates ranging from $2.78 billion to $2.82 billion. For the next financial year, analysts expect that the business will report sales of $3.01 billion per share, with estimates ranging from $2.98 billion to $3.03 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Plexus.
Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, January 17th. The technology company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.05). Plexus had a positive return on equity of 11.24% and a negative net margin of 0.57%. The firm had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $685.07 million. During the same period last year, the firm earned $0.82 earnings per share. Plexus’s revenue for the quarter was up 6.6% on a year-over-year basis.
PLXS stock traded down $0.16 during trading on Wednesday, reaching $58.43. 128,322 shares of the stock were exchanged, compared to its average volume of 168,790. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.08. Plexus has a 1 year low of $49.06 and a 1 year high of $66.78. The company has a market capitalization of $1,973.86, a PE ratio of 18.48 and a beta of 0.85.
Plexus announced that its board has initiated a share repurchase plan on Tuesday, February 20th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, Director Stephen P. Cortinovis sold 6,250 shares of Plexus stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $61.30, for a total value of $383,125.00. Following the completion of the transaction, the director now owns 31,322 shares in the company, valued at $1,920,038.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 6,500 shares of Plexus stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $60.90, for a total transaction of $395,850.00. The disclosure for this sale can be found here. Insiders sold a total of 28,554 shares of company stock worth $1,726,564 over the last three months. Insiders own 3.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Plexus in the fourth quarter valued at approximately $201,000. Xact Kapitalforvaltning AB acquired a new position in shares of Plexus in the fourth quarter valued at approximately $215,000. Disciplined Growth Investors Inc. MN grew its holdings in shares of Plexus by 0.5% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 2,991,614 shares of the technology company’s stock valued at $181,651,000 after purchasing an additional 13,472 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Plexus in the fourth quarter valued at approximately $936,000. Finally, Vident Investment Advisory LLC grew its holdings in shares of Plexus by 6.5% in the fourth quarter. Vident Investment Advisory LLC now owns 43,101 shares of the technology company’s stock valued at $2,617,000 after purchasing an additional 2,629 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Plexus Corp. (PLXS) Expected to Announce Quarterly Sales of $690.77 Million” was first reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/3344058/plexus-corp-plxs-expected-to-announce-quarterly-sales-of-690-77-million.html.
Plexus Company Profile
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.
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.