Equities research analysts forecast that Plexus Corp. (NASDAQ:PLXS) will announce sales of $684.71 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Plexus Corp.’s earnings, with the highest sales estimate coming in at $685.74 million and the lowest estimate coming in at $683.00 million. Plexus Corp. reported sales of $635.02 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, January 17th.
On average, analysts expect that Plexus Corp. will report full-year sales of $684.71 million for the current fiscal year, with estimates ranging from $2.78 billion to $2.80 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.97 billion per share, with estimates ranging from $2.93 billion to $3.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Plexus Corp..
Plexus Corp. (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Plexus Corp. had a return on equity of 11.48% and a net margin of 4.43%. The firm had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $676.23 million. During the same period in the previous year, the firm posted $0.82 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Citigroup Inc. boosted their price objective on Plexus Corp. from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. J P Morgan Chase & Co cut Plexus Corp. from an “overweight” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Tuesday, October 10th. ValuEngine raised Plexus Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 target price on shares of Plexus Corp. in a research note on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.86.
In related news, CEO Todd P. Kelsey sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $61.71, for a total value of $246,840.00. Following the transaction, the chief executive officer now directly owns 58,425 shares of the company’s stock, valued at approximately $3,605,406.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $49.38, for a total transaction of $432,075.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,009 shares in the company, valued at $839,904.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,732 shares of company stock worth $8,744,117. Insiders own 4.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Dean Investment Associates LLC lifted its stake in Plexus Corp. by 5.2% in the 3rd quarter. Dean Investment Associates LLC now owns 116,555 shares of the technology company’s stock valued at $6,536,000 after buying an additional 5,725 shares in the last quarter. California Public Employees Retirement System lifted its stake in Plexus Corp. by 2.3% in the 3rd quarter. California Public Employees Retirement System now owns 86,794 shares of the technology company’s stock worth $4,867,000 after purchasing an additional 1,942 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Plexus Corp. in the 3rd quarter worth approximately $514,000. Vident Investment Advisory LLC lifted its stake in Plexus Corp. by 2.7% in the 3rd quarter. Vident Investment Advisory LLC now owns 40,472 shares of the technology company’s stock worth $2,270,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Plexus Corp. by 45.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 63,817 shares of the technology company’s stock worth $3,579,000 after purchasing an additional 20,010 shares in the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Plexus Corp. (NASDAQ:PLXS) traded up $0.01 during mid-day trading on Friday, hitting $60.94. The stock had a trading volume of 209,756 shares, compared to its average volume of 174,943. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.03. Plexus Corp. has a 1 year low of $49.06 and a 1 year high of $62.56. The company has a market capitalization of $2,050.00, a PE ratio of 18.82 and a beta of 0.90.
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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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