Benchmark Electronics (NYSE:BHE) Issues Q3 Earnings Guidance

Benchmark Electronics (NYSE:BHE) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.52-$0.58 for the period, compared to the consensus estimate of $0.53. The company issued revenue guidance of $630-$670 million, compared to the consensus revenue estimate of $647.15 million.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com lowered Benchmark Electronics from a buy rating to a hold rating in a research report on Friday, July 19th. Needham & Company LLC boosted their price target on shares of Benchmark Electronics from $31.00 to $40.00 and gave the company a buy rating in a report on Monday, May 6th. Sidoti cut shares of Benchmark Electronics from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a report on Monday, April 29th. Finally, Fox Advisors lowered shares of Benchmark Electronics from an overweight rating to an equal weight rating in a research note on Wednesday, May 15th.

Benchmark Electronics Stock Performance

Benchmark Electronics stock traded down $1.63 during mid-day trading on Tuesday, hitting $40.67. 333,267 shares of the company’s stock traded hands, compared to its average volume of 336,814. Benchmark Electronics has a one year low of $22.66 and a one year high of $44.85. The company has a market cap of $1.47 billion, a PE ratio of 22.35 and a beta of 0.99. The firm has a 50 day moving average price of $40.98 and a 200 day moving average price of $34.41. The company has a quick ratio of 1.41, a current ratio of 2.36 and a debt-to-equity ratio of 0.29.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Benchmark Electronics had a net margin of 2.34% and a return on equity of 7.20%. The firm had revenue of $675.58 million during the quarter.

Benchmark Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a dividend of $0.165 per share. The ex-dividend date was Friday, June 28th. This represents a $0.66 annualized dividend and a yield of 1.62%. Benchmark Electronics’s payout ratio is 36.07%.

Insider Buying and Selling at Benchmark Electronics

In other news, SVP Jan M. Janick sold 6,777 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.87, for a total value of $263,421.99. Following the completion of the sale, the senior vice president now owns 67,774 shares in the company, valued at $2,634,375.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jeffrey Stephen Mccreary sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $39.49, for a total transaction of $394,900.00. Following the completion of the sale, the director now directly owns 45,062 shares of the company’s stock, valued at approximately $1,779,498.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jan M. Janick sold 6,777 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.87, for a total value of $263,421.99. Following the sale, the senior vice president now directly owns 67,774 shares of the company’s stock, valued at $2,634,375.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,560 shares of company stock valued at $688,374. 2.10% of the stock is owned by corporate insiders.

About Benchmark Electronics

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.