Wall Street brokerages forecast that Plexus Corp. (NASDAQ:PLXS) will report sales of $777.28 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Plexus’ earnings. The lowest sales estimate is $774.50 million and the highest is $780.06 million. Plexus reported sales of $698.65 million during the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The business is scheduled to report its next earnings report after the market closes on Wednesday, April 17th.
On average, analysts expect that Plexus will report full year sales of $3.17 billion for the current year, with estimates ranging from $3.16 billion to $3.18 billion. For the next year, analysts forecast that the company will report sales of $3.43 billion, with estimates ranging from $3.39 billion to $3.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Plexus.
Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, January 16th. The technology company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.01. The company had revenue of $765.54 million for the quarter, compared to analysts’ expectations of $768.32 million. Plexus had a return on equity of 12.44% and a net margin of 4.52%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS.
PLXS has been the subject of several recent research reports. BidaskClub raised Plexus from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Sidoti initiated coverage on Plexus in a report on Wednesday, March 20th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, Zacks Investment Research raised Plexus from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Plexus presently has a consensus rating of “Buy” and an average target price of $69.33.
Shares of NASDAQ PLXS traded down $0.48 during mid-day trading on Friday, reaching $65.77. 1,541 shares of the company’s stock were exchanged, compared to its average volume of 153,986. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 20.37 and a beta of 0.77. Plexus has a 52 week low of $47.63 and a 52 week high of $66.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.97 and a quick ratio of 0.94.
In other Plexus news, VP Ronnie Darroch sold 3,454 shares of Plexus stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $56.44, for a total transaction of $194,943.76. Following the completion of the transaction, the vice president now owns 8,489 shares of the company’s stock, valued at approximately $479,119.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Dean A. Foate sold 60,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $63.00, for a total value of $3,780,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 78,454 shares of company stock valued at $4,875,094 in the last ninety days. Insiders own 3.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Federated Investors Inc. PA acquired a new position in shares of Plexus during the third quarter valued at approximately $92,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Plexus in the fourth quarter valued at $128,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Plexus in the fourth quarter valued at $161,000. Jefferies Group LLC acquired a new stake in shares of Plexus in the third quarter valued at $216,000. Finally, Jane Street Group LLC acquired a new stake in shares of Plexus in the fourth quarter valued at $275,000. 96.45% of the stock is owned by institutional investors and hedge funds.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.
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