Plexus (NASDAQ:PLXS) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Plexus (NASDAQ:PLXS) posted its quarterly earnings results on Wednesday. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.87 by $0.07, Briefing.com reports. The business had revenue of $966.90 million during the quarter, compared to analyst estimates of $950.75 million. Plexus had a net margin of 2.54% and a return on equity of 10.86%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 EPS. Plexus updated its Q3 guidance to $1.22-1.37 EPS and its Q3 2024 guidance to 1.220-1.370 EPS.

Plexus Trading Up 0.7 %

Shares of NASDAQ:PLXS traded up $0.65 during mid-day trading on Friday, reaching $99.74. The stock had a trading volume of 5,287 shares, compared to its average volume of 116,517. The firm has a market cap of $2.75 billion, a PE ratio of 27.37 and a beta of 1.02. The firm has a 50 day simple moving average of $94.38 and a two-hundred day simple moving average of $98.38. The company has a current ratio of 1.52, a quick ratio of 0.62 and a debt-to-equity ratio of 0.15. Plexus has a twelve month low of $83.84 and a twelve month high of $114.06.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PLXS shares. TheStreet lowered shares of Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Needham & Company LLC boosted their price objective on shares of Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday. Sidoti downgraded shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a research report on Tuesday, January 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of Plexus in a report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $112.00.

Insider Activity at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $97.18, for a total transaction of $358,982.92. Following the sale, the chief accounting officer now directly owns 40,875 shares in the company, valued at approximately $3,972,232.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Patrick John Jermain sold 4,748 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $95.47, for a total value of $453,291.56. Following the completion of the transaction, the chief financial officer now directly owns 49,903 shares of the company’s stock, valued at $4,764,239.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $97.18, for a total transaction of $358,982.92. Following the completion of the transaction, the chief accounting officer now directly owns 40,875 shares of the company’s stock, valued at $3,972,232.50. The disclosure for this sale can be found here. Insiders have sold 32,453 shares of company stock worth $3,112,875 in the last ninety days. Company insiders own 2.39% of the company’s stock.

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.