Benchmark Electronics (BHE) Releases Earnings Results, Beats Estimates By $0.05 EPS

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Benchmark Electronics (NYSE:BHE) posted its earnings results on Thursday. The technology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05, Bloomberg Earnings reports. The firm had revenue of $657.00 million during the quarter, compared to the consensus estimate of $632.27 million. Benchmark Electronics had a positive return on equity of 5.92% and a negative net margin of 3.14%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. Benchmark Electronics updated its Q1 2019 guidance to $0.29-0.37 EPS and its Q1 guidance to $0.29-0.37 EPS.

Shares of BHE opened at $27.05 on Friday. The firm has a market capitalization of $1.16 billion, a P/E ratio of 16.80 and a beta of 0.67. Benchmark Electronics has a 52-week low of $20.01 and a 52-week high of $32.53. The company has a quick ratio of 2.35, a current ratio of 3.02 and a debt-to-equity ratio of 0.12.

The business also recently declared a quarterly dividend, which was paid on Friday, January 11th. Investors of record on Monday, December 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, December 28th. This represents a $0.60 dividend on an annualized basis and a yield of 2.22%. Benchmark Electronics’s dividend payout ratio is presently 37.27%.

Benchmark Electronics announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 30th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of research firms have recently commented on BHE. Citigroup lowered their target price on Benchmark Electronics from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, October 31st. Sidoti assumed coverage on Benchmark Electronics in a research report on Friday, January 18th. They set a “buy” rating and a $34.00 target price for the company.

A number of institutional investors and hedge funds have recently modified their holdings of BHE. Investment Counselors of Maryland LLC bought a new stake in Benchmark Electronics in the third quarter worth $20,287,000. Matarin Capital Management LLC bought a new stake in Benchmark Electronics in the third quarter worth $13,906,000. Morgan Stanley lifted its position in Benchmark Electronics by 214.9% in the third quarter. Morgan Stanley now owns 733,600 shares of the technology company’s stock worth $17,166,000 after buying an additional 500,674 shares during the last quarter. Royce & Associates LP lifted its position in Benchmark Electronics by 17.4% in the third quarter. Royce & Associates LP now owns 1,568,757 shares of the technology company’s stock worth $36,709,000 after buying an additional 232,189 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Benchmark Electronics by 32.4% in the third quarter. Renaissance Technologies LLC now owns 795,750 shares of the technology company’s stock worth $18,621,000 after buying an additional 194,700 shares during the last quarter. Institutional investors own 99.94% of the company’s stock.

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Benchmark Electronics Company Profile

Benchmark Electronics, Inc, together with its subsidiaries, provides engineering services, integrated technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing, and automation equipment design and build services.

Read More: Average Daily Trade Volume – ADTV

Earnings History for Benchmark Electronics (NYSE:BHE)

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