Plexus (NASDAQ:PLXS) Updates Q3 Earnings Guidance

Plexus (NASDAQ:PLXS) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.22-1.37 for the period, compared to the consensus earnings per share estimate of $1.09. The company issued revenue guidance of $960 million – $1 billion, compared to the consensus revenue estimate of $1.02 billion.

Analyst Upgrades and Downgrades

PLXS has been the topic of a number of research reports. Benchmark reaffirmed a buy rating and set a $110.00 target price on shares of Plexus in a research report on Wednesday, January 17th. Sidoti lowered Plexus from a buy rating to a neutral rating and set a $112.00 price target for the company. in a research report on Tuesday, January 9th. Needham & Company LLC lowered their price target on Plexus from $110.00 to $107.00 and set a buy rating for the company in a research report on Thursday, January 25th. Finally, TheStreet lowered Plexus from a b rating to a c+ rating in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $109.67.

Plexus Stock Performance

Shares of PLXS stock traded down $0.91 on Wednesday, hitting $95.67. 114,744 shares of the stock were exchanged, compared to its average volume of 116,832. The company has a current ratio of 1.52, a quick ratio of 0.62 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.64 billion, a PE ratio of 21.34 and a beta of 1.02. Plexus has a one year low of $83.84 and a one year high of $114.06. The firm’s 50 day moving average is $94.32 and its two-hundred day moving average is $98.39.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Thursday, January 25th. The technology company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.01). The business had revenue of $982.61 million during the quarter, compared to analysts’ expectations of $982.57 million. Plexus had a net margin of 3.08% and a return on equity of 12.16%. The business’s revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 EPS. Sell-side analysts expect that Plexus will post 4.25 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In other Plexus news, insider Michael J. Running sold 542 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total value of $51,815.20. Following the sale, the insider now directly owns 1,569 shares of the company’s stock, valued at $149,996.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Michael J. Running sold 542 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total transaction of $51,815.20. Following the completion of the sale, the insider now owns 1,569 shares in the company, valued at $149,996.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Patrick John Jermain sold 4,748 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $95.47, for a total value of $453,291.56. Following the completion of the sale, the chief financial officer now owns 49,903 shares of the company’s stock, valued at approximately $4,764,239.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,453 shares of company stock worth $3,112,875. 2.39% of the stock is currently owned by insiders.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.