Plexus (NASDAQ:PLXS) Updates Q4 2024 Earnings Guidance

Plexus (NASDAQ:PLXS) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.500-1.650 for the period, compared to the consensus earnings per share estimate of 1.440. The company issued revenue guidance of $990.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Plexus also updated its Q4 guidance to $1.50-1.65 EPS.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLXS. Benchmark upped their target price on Plexus from $110.00 to $120.00 and gave the stock a buy rating in a research note on Friday, June 21st. Stifel Nicolaus upped their target price on Plexus from $90.00 to $95.00 and gave the stock a hold rating in a research note on Friday, April 26th. Finally, Needham & Company LLC upped their target price on Plexus from $114.00 to $144.00 and gave the stock a buy rating in a research note on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $117.75.

Plexus Price Performance

Shares of Plexus stock traded up $0.26 during trading on Friday, hitting $129.85. 152,848 shares of the stock traded hands, compared to its average volume of 126,260. The company has a quick ratio of 0.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 36.06 and a beta of 0.90. The firm’s fifty day moving average is $108.33 and its 200-day moving average is $101.10. Plexus has a 52 week low of $87.21 and a 52 week high of $132.46.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.17. The company had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. Plexus had a return on equity of 9.68% and a net margin of 2.82%. Plexus’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 EPS. Research analysts expect that Plexus will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $102.66, for a total transaction of $230,985.00. Following the sale, the chief accounting officer now owns 38,560 shares in the company, valued at approximately $3,958,569.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of Plexus stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $102.66, for a total value of $230,985.00. Following the completion of the transaction, the chief accounting officer now owns 38,560 shares of the company’s stock, valued at approximately $3,958,569.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Patrick John Jermain sold 4,750 shares of Plexus stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total value of $477,042.50. Following the completion of the transaction, the chief financial officer now directly owns 42,932 shares of the company’s stock, valued at approximately $4,311,660.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,386 shares of company stock worth $3,749,884. 2.39% of the stock is currently owned by corporate insiders.

About Plexus

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.