Brokerages Expect Plexus Corp. (PLXS) Will Post Quarterly Sales of $684.71 Million

Brokerages expect that Plexus Corp. (NASDAQ:PLXS) will report $684.71 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Plexus’ earnings, with the highest sales estimate coming in at $685.74 million and the lowest estimate coming in at $683.00 million. Plexus reported sales of $635.02 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.8%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, January 17th.

According to Zacks, analysts expect that Plexus will report full year sales of $684.71 million for the current fiscal year, with estimates ranging from $2.78 billion to $2.80 billion. For the next financial year, analysts expect that the firm will report sales of $2.97 billion per share, with estimates ranging from $2.93 billion to $3.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Plexus.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. The firm had revenue of $670.00 million during the quarter, compared to the consensus estimate of $676.23 million. Plexus had a return on equity of 11.48% and a net margin of 4.43%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share.

Several equities research analysts have recently commented on the company. Citigroup upped their price target on Plexus from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 price objective on shares of Plexus in a research report on Tuesday, September 12th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research cut Plexus from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Finally, JPMorgan Chase & Co. cut Plexus from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Plexus currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Shares of Plexus (NASDAQ PLXS) opened at $65.12 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.03. Plexus has a 52 week low of $49.06 and a 52 week high of $65.54. The firm has a market capitalization of $2,190.00, a P/E ratio of 20.10 and a beta of 0.88.

In other Plexus news, insider Yong Jin Lim sold 10,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $63.07, for a total value of $630,700.00. Following the sale, the insider now owns 58,890 shares of the company’s stock, valued at $3,714,192.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total value of $985,280.00. Following the completion of the sale, the chief accounting officer now directly owns 18,159 shares in the company, valued at approximately $1,118,231.22. The disclosure for this sale can be found here. Insiders sold 205,696 shares of company stock worth $12,706,971 in the last three months. 3.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mutual of America Capital Management LLC boosted its stake in shares of Plexus by 2.8% during the third quarter. Mutual of America Capital Management LLC now owns 68,101 shares of the technology company’s stock valued at $3,819,000 after acquiring an additional 1,861 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Plexus by 0.5% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,038,867 shares of the technology company’s stock worth $159,753,000 after purchasing an additional 16,329 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Plexus by 3.8% in the 2nd quarter. Principal Financial Group Inc. now owns 282,731 shares of the technology company’s stock worth $14,864,000 after purchasing an additional 10,388 shares during the period. Brandywine Global Investment Management LLC purchased a new position in shares of Plexus in the 2nd quarter worth about $5,016,000. Finally, FMR LLC raised its holdings in shares of Plexus by 546.1% during the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after buying an additional 939,589 shares during the period. 93.45% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This report was first published by BBNS and is owned by of BBNS. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://baseballnewssource.com/markets/brokerages-expect-plexus-corp-plxs-will-post-quarterly-sales-of-684-71-million/1819885.html.

About Plexus

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.

Get a free copy of the Zacks research report on Plexus (PLXS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Plexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires


Leave a Reply

 
© 2006-2018 BBNS.