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

Plexus (NASDAQ:PLXS) released its quarterly earnings data on Wednesday. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07, Briefing.com reports. The firm had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. Plexus had a net margin of 3.08% and a return on equity of 12.16%. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period last year, the firm earned $1.45 earnings per share. Plexus updated its Q3 guidance to $1.22-1.37 EPS and its Q3 2024 guidance to 1.220-1.370 EPS.

Plexus Stock Performance

NASDAQ:PLXS traded up $3.61 during trading on Thursday, reaching $99.28. The company’s stock had a trading volume of 20,150 shares, compared to its average volume of 115,888. Plexus has a 12 month low of $83.84 and a 12 month high of $114.06. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 22.11 and a beta of 1.02. The firm has a 50 day moving average of $94.34 and a 200-day moving average of $98.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.52.

Insider Transactions at Plexus

In other news, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the sale, the chief executive officer now owns 121,310 shares in the company, valued at approximately $11,403,140. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the sale, the chief executive officer now owns 121,310 shares of the company’s stock, valued at $11,403,140. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Todd P. Kelsey sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.47, for a total transaction of $236,175.00. Following the sale, the chief executive officer now owns 125,310 shares in the company, valued at $11,838,035.70. 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Sidoti downgraded Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price target for the company. in a report on Tuesday, January 9th. Benchmark reiterated a “buy” rating and issued a $110.00 target price on shares of Plexus in a research note on Wednesday, January 17th. Needham & Company LLC dropped their price target on shares of Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, TheStreet cut shares of Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

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.