Plexus (NASDAQ:PLXS) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Plexus (NASDAQ:PLXS) announced its earnings results on Tuesday. The technology company reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.22, MarketWatch Earnings reports. The company had revenue of $814.39 million for the quarter, compared to analysts’ expectations of $797.24 million. Plexus had a return on equity of 15.55% and a net margin of 4.35%. Plexus’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share.

Shares of PLXS traded down $1.54 during mid-day trading on Thursday, hitting $86.04. The stock had a trading volume of 572 shares, compared to its average volume of 99,315. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 17.14 and a beta of 1.20. The stock’s fifty day moving average price is $92.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.04 and a current ratio of 1.88. Plexus has a 52 week low of $64.35 and a 52 week high of $101.17.

In related news, CEO Todd P. Kelsey sold 2,500 shares of the business’s stock in a transaction on Monday, April 26th. The stock was sold at an average price of $94.14, for a total transaction of $235,350.00. Following the sale, the chief executive officer now directly owns 93,657 shares in the company, valued at approximately $8,816,869.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,076 shares of the business’s stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $93.23, for a total value of $193,545.48. Following the sale, the chief accounting officer now owns 25,961 shares in the company, valued at $2,420,344.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,076 shares of company stock worth $1,045,755. Corporate insiders own 2.38% of the company’s stock.

Several research analysts recently issued reports on PLXS shares. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Tuesday, June 22nd. Zacks Investment Research raised Plexus from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Monday, April 26th. Raymond James set a $85.73 price objective on Plexus and gave the stock a “hold” rating in a research report on Monday. Needham & Company LLC boosted their price objective on Plexus from $102.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, May 25th. Finally, Loop Capital boosted their price objective on Plexus from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, June 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $95.25.

About Plexus

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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Earnings History for Plexus (NASDAQ:PLXS)

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