Plexus Corp. (NASDAQ:PLXS) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.77 to $0.87 for the period, compared to the Thomson Reuters consensus estimate of $0.84. The company issued revenue guidance of $660 million to $700 million, compared to the consensus revenue estimate of $672.12 million.
Several brokerages have recently commented on PLXS. ValuEngine lowered Plexus Corp. from a buy rating to a hold rating in a report on Friday, July 14th. Zacks Investment Research raised Plexus Corp. from a sell rating to a hold rating in a report on Wednesday, June 21st. BidaskClub lowered Plexus Corp. from a buy rating to a hold rating in a report on Thursday, June 15th. Royal Bank Of Canada reissued a sector perform rating and set a $57.00 price objective on shares of Plexus Corp. in a report on Saturday, April 22nd. Finally, JPMorgan Chase & Co. began coverage on Plexus Corp. in a report on Tuesday, April 4th. They set a neutral rating and a $65.00 price objective for the company. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $59.80.
Shares of Plexus Corp. (PLXS) traded up 1.51% during mid-day trading on Wednesday, reaching $53.86. The company’s stock had a trading volume of 211,929 shares. The stock has a market capitalization of $1.82 billion, a P/E ratio of 18.07 and a beta of 0.93. Plexus Corp. has a 12-month low of $43.56 and a 12-month high of $58.74. The company’s 50-day moving average price is $52.52 and its 200-day moving average price is $54.19.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, April 19th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.08. Plexus Corp. had a return on equity of 11.10% and a net margin of 4.01%. The business had revenue of $604.30 million for the quarter, compared to the consensus estimate of $633.72 million. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Plexus Corp. will post $3.22 earnings per share for the current fiscal year.
In other news, Director Michael V. Schrock sold 5,000 shares of Plexus Corp. stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $51.37, for a total value of $256,850.00. Following the completion of the transaction, the director now owns 28,298 shares in the company, valued at approximately $1,453,668.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of Plexus Corp. stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $53.49, for a total value of $106,980.00. Following the completion of the transaction, the chief executive officer now owns 57,175 shares of the company’s stock, valued at approximately $3,058,290.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,400 shares of company stock worth $652,000. Corporate insiders own 4.30% of the company’s stock.
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About Plexus Corp.
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.
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