Benchmark Electronics (NYSE:BHE) Releases Q4 2024 Earnings Guidance

Benchmark Electronics (NYSE:BHE) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.530-0.590 for the period, compared to the consensus estimate of 0.550. The company issued revenue guidance of $640.0 million-$680.0 million, compared to the consensus revenue estimate of $657.7 million. Benchmark Electronics also updated its Q4 guidance to $0.53-0.59 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BHE. Needham & Company LLC raised their price objective on shares of Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Lake Street Capital upped their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.33.

Benchmark Electronics Stock Performance

Benchmark Electronics stock traded up $0.15 during trading hours on Wednesday, reaching $45.40. 258,295 shares of the company were exchanged, compared to its average volume of 309,332. Benchmark Electronics has a 12 month low of $23.62 and a 12 month high of $48.58. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 24.82 and a beta of 0.98. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $42.98 and a 200 day moving average of $40.68.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $635.75 million. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share.

Benchmark Electronics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.17 per share. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, September 30th. Benchmark Electronics’s dividend payout ratio is presently 37.16%.

Insider Transactions at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the transaction, the director now owns 42,027 shares in the company, valued at approximately $1,794,552.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

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.