Plexus Corp. (PLXS) Expected to Announce Quarterly Sales of $690.77 Million

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.

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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.

A number of equities research analysts have recently issued reports on PLXS shares. TheStreet downgraded shares of Plexus from an “a-” rating to a “c+” rating in a research note on Wednesday, January 17th. Zacks Investment Research raised shares of Plexus from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Thursday, March 22nd. JPMorgan Chase set a $70.00 price target on shares of Plexus and gave the company a “hold” rating in a research note on Friday, March 16th. BidaskClub downgraded shares of Plexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. Finally, Longbow Research raised shares of Plexus from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Plexus currently has an average rating of “Hold” and an average price target of $62.00.

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.

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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.

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