Plexus Corp. (NASDAQ:PLXS) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.77 to $0.87 for the period, compared to the Thomson Reuters consensus EPS 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.
A number of brokerages recently weighed in on PLXS. Zacks Investment Research lowered Plexus Corp. from a hold rating to a sell rating in a research report on Monday, April 24th. Royal Bank Of Canada reissued a sector perform rating and issued a $57.00 price objective on shares of Plexus Corp. in a research report on Saturday, April 22nd. J P Morgan Chase & Co started coverage on Plexus Corp. in a research report on Tuesday, April 4th. They set a neutral rating and a $65.00 target price on the stock. Citigroup Inc. lifted their target price on Plexus Corp. from $56.00 to $59.00 and gave the stock a neutral rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus reissued a hold rating and issued a $54.00 price objective (up from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Plexus Corp. presently has an average rating of Hold and an average price target of $58.25.
Shares of Plexus Corp. (NASDAQ PLXS) traded down 1.03% during mid-day trading on Friday, reaching $53.76. 163,919 shares of the company’s stock traded hands. The company’s 50 day moving average is $52.89 and its 200-day moving average is $54.21. Plexus Corp. has a 52 week low of $44.35 and a 52 week high of $58.74. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 18.15 and a beta of 0.93.
Plexus Corp. (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The company had revenue of $618.80 million during the quarter, compared to the consensus estimate of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. Equities analysts expect that Plexus Corp. will post $3.22 earnings per share for the current fiscal year.
In other news, VP Steven J. Frisch sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $54.82, for a total value of $137,050.00. Following the completion of the transaction, the vice president now directly owns 20,478 shares in the company, valued at $1,122,603.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 11,250 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $55.09, for a total transaction of $619,762.50. Following the completion of the transaction, the chief executive officer now owns 57,175 shares of the company’s stock, valued at $3,149,770.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,106 shares of company stock valued at $4,373,206. 4.30% of the stock is owned by company insiders.
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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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