Brokerages Anticipate Plexus Corp. (PLXS) Will Announce Quarterly Sales of $690.73 Million

Brokerages predict that Plexus Corp. (NASDAQ:PLXS) will report $690.73 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Plexus’ earnings, with estimates ranging from $690.00 million to $691.30 million. Plexus posted sales of $604.35 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The business is expected to announce its next earnings results on Wednesday, April 18th.

On average, analysts expect that Plexus will report full year sales of $690.73 million for the current year, with estimates ranging from $2.78 billion to $2.82 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.01 billion per share, with estimates ranging from $2.98 billion to $3.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Plexus.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, January 17th. The technology company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.05). The firm had revenue of $677.00 million for the quarter, compared to the consensus estimate of $685.07 million. Plexus had a negative net margin of 0.57% and a positive return on equity of 11.24%. Plexus’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share.

Several equities analysts have recently commented on PLXS shares. Longbow Research upgraded Plexus from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. TheStreet lowered Plexus from an “a-” rating to a “c+” rating in a research report on Wednesday, January 17th. Citigroup increased their price objective on Plexus from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, BidaskClub cut Plexus from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $59.17.

In related news, Chairman Dean A. Foate sold 23,950 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $63.08, for a total transaction of $1,510,766.00. Following the completion of the sale, the chairman now directly owns 293,370 shares in the company, valued at approximately $18,505,779.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Dean A. Foate sold 12,300 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $63.41, for a total value of $779,943.00. Following the sale, the chairman now owns 295,220 shares of the company’s stock, valued at $18,719,900.20. The disclosure for this sale can be found here. Insiders have sold a total of 64,650 shares of company stock valued at $4,057,561 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Appleton Group LLC purchased a new stake in Plexus in the 3rd quarter worth approximately $201,000. Verition Fund Management LLC purchased a new stake in Plexus in the 4th quarter worth approximately $232,000. Suntrust Banks Inc. lifted its holdings in Plexus by 1.3% in the 2nd quarter. Suntrust Banks Inc. now owns 5,440 shares of the technology company’s stock worth $285,000 after buying an additional 69 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Plexus by 1.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,228 shares of the technology company’s stock worth $328,000 after buying an additional 92 shares during the period. Finally, Sawgrass Asset Management LLC lifted its holdings in Plexus by 44.2% in the 4th quarter. Sawgrass Asset Management LLC now owns 6,200 shares of the technology company’s stock worth $376,000 after buying an additional 1,900 shares during the period. Institutional investors own 93.70% of the company’s stock.

Shares of Plexus (NASDAQ:PLXS) traded up $0.02 during trading on Monday, hitting $59.16. The stock had a trading volume of 154,741 shares, compared to its average volume of 183,351. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.08. The company has a market cap of $1,990.00, a price-to-earnings ratio of -116.00 and a beta of 0.86. Plexus has a 12-month low of $49.06 and a 12-month high of $66.78.

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Plexus Company Profile

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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